Built in 1981, a renovation was completed in April. It is 94% leased.
The Hills was one of three apartments The REIT refinanced with a total of $49.6 million through Holliday Fenoglio Fowler LP, a commercial mortgage company based in Dallas. Howard Taft, senior managing director of Holliday's Miami office, arranged the 20-year, fixed-rate financing transactions. Steven Heldenfels in the Dallas office and Jon Wood in Indianapolis assisted with the Austin transaction.
In Miami, the Four Quarters Habitat received $15.73 million. Located in the Kendall area of Miami, the complex has 336 units and is 98% leased. The Yorktown II in Lombard, IL, a Chicago suburb, received $18 million. It is 92% leased.
Through its subsidiaries, AIMCO operates 1,640 properties, including approximately 313,000 apartment units.
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