ALCO Properties Refinances Nashville Apartment Community.Business Editors MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Feb. 4, 2003 ALCO Properties, Inc. today announced it has refinanced the Hickory View Apartments in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. . The 120-unit apartment community was refinanced with Highland Mortgage Company for a 30-year term with an interest rate under 6%. The Nashville office of the Department of Housing and Urban Development (HUD Hud (h  d), a pre-Qur'anic prophet of Islam. Hud unsuccessfully exhorted his South Arabian people, the Ad, to worship the One God. ) recommended and insured this loan. ALCO also announced a $450,000 capital improvements program for the property, including a perimeter fence perimeter fence perimeter n → Umzäunung f , interior upgrades and vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. . ALCO has owned and managed the property since 2000. "The current interest rate environment has enabled us to refinance several properties, including Hickory View, on much more favorable terms," said Frank Z. Jemison, ALCO president and chief executive officer. "This benefits both our investors and the residents, and gives us the flexibility to undertake substantial capital improvement programs like that at Hickory View," Jemison added. Memphis-based ALCO Properties, Inc. is a privately-held real estate firm specializing in the development, financing and management of conventional and government-assisted apartment communities for more than 25 years. ALCO currently owns and/or manages nearly 9,000 apartments at 76 locations in nine states throughout the Southeast. |
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