SevenSeas Holdings Buys 296-Unit Terraces on the Parkway Apartments in Metro Dallas
GRAND PRAIRIE, TEXAS — SevenSeas Holdings LLC has acquired Terraces on the Parkway, a 296-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling stations, fitness center, dog park and a children’s play area. Dougherty Mortgage LLC arranged an undisclosed amount of Fannie Mae acquisition financing for the deal. The loan, which carried a 12-year term and a 30-year amortization schedule, was secured through a partnership with Old Capital Lending.