Travis Fite's Houston Multifamily Property Secures $13.4M Refinance Loan

A multifamily property located at 7655 Bellfort Ave in Houston has been the subject of a recent closed transaction. The property consists of 142 units and has been refinanced for a loan amount of $13,400,000. The loan terms for this transaction include a 10-year term with 7 years of interest only, followed by a 30-year amortization period.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $13,400,000
• Address: 7655 Bellfort Ave, Houston
• Units: 142

The broker for this transaction was Travis Fite from Northmarq Houston. He represented the parties involved in the deal and facilitated the refinancing process for the multifamily property.

This transaction highlights the continued activity in the Houston market, with investors taking advantage of refinancing options. The terms of the loan provide a period of interest-only payments, followed by a extended amortization period, allowing for flexibility in managing the property's cash flow.