HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $5.2 million refinancing for Chappell Oaks Apartments,(above photo) a 120-unit, Class A multifamily community in Belton, Texas.HFF director Cortney Cole (top right photo) worked exclusively on behalf of the borrower, Chappell Hill Equity IV, Ltd. in arranging the 10-year, 5.75% fixed-rate 
loan through Wachovia Multifamily Capital, Inc. FNMA. Proceeds from the loan were used to retire the existing debt that was maturing.
loan through Wachovia Multifamily Capital, Inc. FNMA. Proceeds from the loan were used to retire the existing debt that was maturing.Chappell Oaks Apartments is located on 12.8 acres at 200 Lake Road in northwest Belton (approximately mid-way between Dallas and Houst
on) close to the junction of Interstate Highway 35 and US Highway 190, as well as the Fort Hood Military Reservation, University of Mary, Hardin at Baylor and Texas A&M University College of Medicine.
on) close to the junction of Interstate Highway 35 and US Highway 190, as well as the Fort Hood Military Reservation, University of Mary, Hardin at Baylor and Texas A&M University College of Medicine. (Middle left photo shows President George W. Bush greeting soliders at Fort Hood, Killeen, TX)
Completed in 1998, the property is 98% leased and features one-, two- and three-bedroom units averaging 1,076 square feet each. Community amenities include a controlled access gate and swimming pool with hot tub as well as detached and attached parking garages.
CONTACTS:Laurie Fish McDowell, HFF Associate Director, Marketing, 617 738 0990, lmcdowell@hfflp.com
Cortney R. Cole, HFF Director, 713 852 3500, ccole@hfflp.com
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