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$3,500,000
First Mortgage
Hoodview
Apartments
Killeen, Texas |
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Hoodview Apartments is a 150-unit garden complex built in 1975 and
renovated in 2002-2003. The property consists of 16 two-story buildings
which are situated on 6.34 acres of land. Hoodview offers an excellent
mix of unit types including: 20 1br/1ba units; 48 each of 2br/1ba
and 2br/2ba units; 32 3br/2ba units; and one each of 2br/1.5ba and
3br/1ba units. The property is located at 1320 Wales Drive, which
is in the southwest section of Killeen. The subject is surrounded
by primarily residential and some commercial development. It is well
located with easy access to the major arteries serving the area, and
is located approximately two miles southeast of Fort Hood, the largest
army base in the United States.
Suburban provided a first mortgage loan to the borrower for the refinance
of the property. The loan was a fixed-rate mortgage having a 10-year
maturity with a 30-year amortization, and was priced at a fixed interest
rate spread over the 10-Year U.S. Treasury Bond Index
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