CBRE Provides $18.1M HUD Refinancing for Apartment Community in Knoxville
KNOXVILLE, TENN. — CBRE Capital Markets has provided an $18.1 million loan through the U.S. Department of Housing and Urban Development (HUD) for the refinancing of The Villas of Emerald Woods, a 198-unit apartment community in Knoxville. Ann Cone and K.O. Kennedy of CBRE originated the 35-year loan on behalf of the borrower, The Williams Co. LLC. The Knoxville-based company developed the property in three phases between 2006 and 2009. The Villas of Emerald Woods features two- and three-bedroom, townhome-style apartments. Community amenities include a fitness center, tennis court, resort-style pool, hot tub and attached garages.