The Suites at Overton Park is located adjacent to the campus of Texas Tech University and across from Jones AT&T Stadium.
Lubbock, Texas — McDougal Companies has procured a $25.87 million loan through Freddie Mac to refinance The Suites at Overton Park, a 298-unit multifamily community located in Lubbock. The property sits on 5.8 acres at 2300 Glenna Goodacre Blvd., adjacent to the campus of Texas Tech University and across the street from Jones AT&T Stadium. The four-story community features a parking garage, a resort-style swimming pool, a walking track, a media room, a fitness center, a technology center, a multimedia room and laundry facilities. It was 99 percent leased at the time of closing.
McDougal is using the proceeds the retire the construction debt for the community, which was constructed in 2008. A Holliday Fenoglio Fowler team led by Mona Carlton arranged the loan, which contains a 5-year term and a fixed interest rate.
— Coleman Wood