Bellfort Village Apartments

Location: Houston, TX
Type: Multifamily
Price: $5,900,000

SMC has provided a $5,900,000 ten-year fixed rate mortgage to refinance existing debt collateralized by Bellfort Village Apartments, a 97.4% occupied, garden-style apartment community with 194 units located in Houston, TX, 14 miles southwest of the downtown CBD. The improvements consist of 20 garden-style apartment buildings including a leasing office and clubhouse, all of which were originally built in 1976. Property amenities include pool access, playground and laundry facilities, high speed internet access, walk-in closets and dishwashers. Tenants receive two parking spaces per unit and small pets are allowed. The Sponsor completed significant capital improvements to the Property between 2011 and 2016 to renovate individual units, building upgrades, and site work.