The $24,126,900 HUD-insured Section 223(a)(7) financing carries a 40-year term and amortization, along with a low, fixed rate. The property complies with HUD’s Energy Star requirement of a 75 score or higher to achieve a Green Mortgage Insurance Premium (MIP) reduction.
Constructed in 2018, Reata West Apartments features 10 three-story garden-style apartment buildings and 224 one-, two- and three-bedroom units with modern amenities and finishes, full-size in-unit laundry, and private outdoor living space. Residents also enjoy access to the community’s clubhouse and business center; pool, fitness center and outdoor recreational facilities; and dog park, on-site parking and garages. Located in Tarrant and Parker Counties, the property is close to Azle’s schools, shopping and the area’s recreational and parks offerings, including Eagle Mountain Lake and the Fort Worth Nature Center and Refuge.