HFF SECURES $5.2 MILLION REFINANCING FOR APARTMENTS

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BELTON, TEXAS — The Houston office of Holliday Fenoglio Fowler (HFF) has secured a $5.2 million refinancing for Chappell Oaks Apartments, a 120-unit multifamily community located at 200 Lake Rd. in northwest Belton. The Class A complex, which sits on 12.8 acres near the junction of Interstate Highway 35 and U.S. Highway 190, is 98 percent leased. The community features one-, two- and three-bedroom units and has on-site amenities such as a controlled-access gate, a swimming pool with a hot tub and both detached and attached garages. Cortney Cole of HFF worked on behalf of the borrower, Chappell Hill Equity IV Ltd., to arrange the 10-year, fixed-rate loan through Wachovia Multifamily Capital FNMA. Proceeds from the loan were used to retire the existing debt that was maturing.

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