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Two Huntsville Complexes Secure $6M in Loans

HUNTSVILLE, TX-Hall Financial Group leverages two loans with the 196-unit Woodcreek and 84-unit Cornerstone, both in Huntsville. The Malone Mortgage Co. HUD loans have LTVs of 80% and run for 33 years.

By Jennifer Brenner Andrade | Updated on September 26, 2002

HUNTSVILLE, TX-Two apartment complexes, owned by Frisco, TX-based Hall Financial Group, in the college town of Huntsville, north of Houston, have been refinanced with cash out. The two loans total just over $6 million.

Malone Mortgage Co. of Dallas provided the HUD-insured financing for the Woodcreek Apartments and Cornerstone Apartments. The 196-unit Woodcreek at 1235 Josey St. leveraged a loan of more than $4.1 million. The complex’s average unit size is 708 sf.

The 84-unit Cornerstone at 2209 Ave. H was the collateral for a fast-track loan. The Cornerstone’s average unit size is 955 sf. Hall acquired the complexes in 1989, just six years after they were built.

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