CopperwoodRanch Apartments is a 280-unit community located at 6833 LakeviewHaven Dr. in Houston.
HOUSTON—Copperwood Ranch Apartments is a 280-unit garden-stylemultifamily community that was developed in 2003 through theLow-Income Housing Tax Credit/LIHTC program. Hunt Real EstateCapital recently provided a Fannie Mae Multifamily AffordableHousing Preservation loan in the amount of $18.1 million torefinance the affordable multifamily community.
The 15-year loan features two years of interest-only paymentsfollowed by a 30-year amortization schedule. The property's 15-yearcompliance period ended on December 31, 2019, through which theborrower ensured that 100% of units will be occupied by low-incomehouseholds (household income not exceeding 60% of AMI) during a15-year extended use period.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
