Dougherty Mortgage LLC closes $35 million HUD 221(d)(4) loan for Crossroads at Terrell


MINNEAPOLIS, Minn.  – February 5, 2020 – The Fort Worth, Texas office of Dougherty Mortgage recently closed a $35 million HUD 221(d)(4) loan for Crossroads at Terrell located in Terrell, Texas.  Crossroads at Terrell will be a Class A multifamily apartment project consisting of 270 units in eight garden-style three-story buildings situated on a 10.50-acre site.  In addition to the eight residential buildings, there will be one clubhouse building consisting of approximately 4,000 square feet.  Project amenities will include a package center, resort-style pool, fire pit, outdoor cooking, business center, clubhouse with kitchen, game room, fitness center, bicycle storage, controlled access, dog park, and a pet spa. The project will be constructed to National Green Building Bronze Standards, allowing it to obtain HUD’s Green MIP rate of 0.25%.  The 40-year term, 40-year amortization loan was arranged for Terrell MF Ventures, LLC.

About Dougherty Mortgage

Dougherty Mortgage LLC is a full-service, nationwide mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.  In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $7.1 billion of loans.  Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.  Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.

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