June 22, 2017
Hunt Mortgage Group provided a Fannie Mae loan facility in the amount of $11.6 million to refinance Northland Woods Apartments in Houston’s Greenspoint submarket. The 280-unit asset is at 15165 Vickery Dr., and operates as an affordable apartment complex for residents who earn 60% or less of the Area Median Income.
The owner is listed as Northland Woods Apartments LP in Houston, which ties to Greater Coastal Management LLC.
“The borrower built the property in 2005, and is a seasoned owner of multifamily affordable housing,” said Paul Weissman with Hunt Mortgage Group. “The Low-Income Housing Tax Credit Program was utilized to develop the property.”
The one-, two- and three-bedroom floor plans range in size from 657 to 1,100 square feet. Amenities include a fitness center, pool, playground and computer lab.
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