Twin Cities Bank Cinches Refi Loan

Dougherty Mortgage LLC, the full service national mortgage banking firm based in Minneapolis and an affiliate of Dougherty & Company, announced another successful closing of a refinance loan for a Leander property.

By Anca Gagiuc, Associate Editor

Merritt Legacy Apartments

Dougherty Mortgage L.L.C., the Minneapolis-based mortgage banking firm, has closed a $7.7 million Fannie Mae loan for the refinancing of a Leander multifamily property.

On July 9 the company, an affiliate of Dougherty & Co., announced that it had arranged the loan on Merritt Legacy Apartments, a 208-unit affordable housing community.

Merritt Legacy Apartments is located at 1350 Sonny Drive, near Austin and Round Rock and close to dinning and shopping options, including Regal Lakeline Mall, Cedar Park Center, Gateway Shopping Center and IKEA.

The residential complex offers one-, two-, and three-bedroom floor plans ranging in size from 767 square feet to 1,392 square feet. Community amenities include a resort-style swimming pool, business center, library and reading room, fitness center, pet park, playground, picnic area, barbeque grills and covered parking. Apartment amenities include open floor plans, Energy Star appliances, large closets, and private patios or balconies with extra storage.

Dougherty Mortgage L.L.C. is an authorized FHA MAP and LEAN lender and a Fannie Mae Delegated Underwriting and Servicing lender, originating and servicing loans for acquisition, refinancing, construction and rehabilitation.

Image courtesy of Merritt Legacy Apartments.