Houston, TX – Andrew Stewart and Dev Morris of David Cronheim Mortgage Corporation have secured financing of $12,750,000 for Woodlake Townhomes, a 315-unit garden-style townhome and apartment community located in Houston, Texas.  The loan was placed for a 10-year term and 30-year amortization at an interest rate of 5.90%.

The subject property, built in 1976 and situated on 8.28 acres of land, includes a resort-style swimming pool, a state-of-the-art fitness center, and a business center with computer and internet access. Divided among 11 two and three-story buildings, the subject property, contains wood laminate flooring, luxurious carpeting, modern kitchens, elevators, and reserved covered and garage parking.

The subject property is located at 2600 Westerland Drive in the Woodlake/Westheimer sub market. Located in West Houston, the property is bound by Interstate 10 to the north and US Highway 59 to the south, the 610 Loop to the east, the Sam Houston Parkway to the west. The property is also in close proximity to the new Westpark Tollway giving Woodlake Town homes easy access to several major highways. In addition, the Subject is centrally located to major, non-highway thoroughfares such as Richmond, Westheimer, and Memorial Drive. Overall, the subject property provides residents instant access to Downtown, the Texas Medical Center and both airports, as well as every major thoroughfare in the city.