September 5, 2019
Kenedy Heights LLC obtained $5.4 million to refinance Kenedy Heights Apartments, situated in Kenedy, TX. The 72-unit apartment complex at 241 SH 72 delivered in 2015, and is 98% occupied. Hunt Real Estate Capital provided a Fannie Mae, seven-year conventional loan, featuring one year of interest only. David Aycock of D. Ansley Co. arranged financing on behalf of the sponsor.
“Kenedy is a growing market in need of more quality multifamily housing to support long-term growth,” said Hunt Real Estate Capital’s Colin Cross. “This property was expertly designed by the sponsors to appeal to a wide variety of tenants – including school teachers, healthcare professionals, bank employees, energy sector personnel, and other service industry workers.”
The apartment complex has a mix of one-, two- and three-bedroom units. On-site amenities include a clubhouse with offices, sport court, barbecue grills, a fitness center, business center with Wi-Fi, playground and mailbox kiosk.
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