Financing arranged by HFF for 148-unit apartment community in Temple, Texas
HOUSTON, TX – March 8, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Chappell Creek Village, a 148-unit, garden-style apartment community in Temple, Texas.
Working exclusively on behalf of the borrower, Chappell Hill Equity III, Ltd., HFF placed the 10-year, 3.86 percent, fixed-rate loan with a correspondent life insurance lender.
Chappell Creek Village is situated on the north side of Ira Young Drive in southwest Temple, just one half of a mile east of Interstate 35 and near major area employers such as Scott & White Memorial Hospital, McLane Foodservice headquarters, Walmart Regional Distribution Center and Temple Mall. Built on 12.62 acres, the property encompasses 148 one-, two- and three-bedroom units within 12 two- and three-story apartment buildings that total 147,220 rentable square feet. Community amenities include a swimming pool, fitness center, business center and on-site laundry facilities. The property is 93 percent occupied.
HFF’s debt placement team was led by director Cortney Cole and executive managing director Scott Galloway.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.