The interest rate was fixed at 6.04% for the 20-year, fully amortized Freddie Mac loan, according to Bill Haley of NorthMarq's Houston office. He arranged the financing for the property owner, Glenn Lynch Corp. of Weatherford, TX.
"For this project, it was a significant improvement of the cash flow to lower the rate from the original loan in 1986 (when it was built)," Haley tells GlobeSt.com.
The garden-style duplexes and four-plexes are situated on 40 acres at 7702 Sentinel Circle in San Angelo. The property provides off-base housing for personnel at Goodfellow Air Force Base in San Angelo. It is 100% occupied.
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