Killeen, TX–-(Ammoland.com)- Construction is already underway on “The Gun Range”, a new state-of-the-art indoor gun range is set to open by Spring 2018 in Killeen, TX. The soon-to-be-built gun range will feature four separate 50-yard lanes with advanced Target Retrievers and Collection areas, and twelve separate 25-yard pistol lanes with the same advanced systems. Some of the special features at the range will be the virtual reality projector that uses a real gun to shoot the “bad guy,” but it doesn’t shoot actual bullets. The range will offer an annual membership program that will earn member discounts on lane rental, accessories, ammunition and gun sales.
Killeen Gun Range is located at 2401 South Fort Hood in Killeen, TX which is the main city of the Fort Hood Army Base. Fort Hood Army Base is the most populous army base in the world with around 88,000 active duty personnel living in the immediate area. This will be the first modern professional shooting range for army personnel and the local population to shoot at.
V3 Lending assisted the owner with the nearly $4M project by successfully closing on a loan to finance the development and construction of a 15,000-square foot gun range. The loan was structured at a 15% down payment with interest only during the construction period. Upon completion of the construction, the loan payments will convert to a 25 year fully amortizing principal and interest payment schedule.
“With the new regulations, it’s no secret that construction lending on specialty buildings such as this gun range is challenging but we knew that this was a project that we can close. We know which lenders are looking for what types of transactions so we structured this project to fit their lending criteria and underwriting” said Sami Habash, Vice President of V3 Lending who led the debt placement team representing the borrower in this transaction. The sponsor is a respected local business owner who has been successfully running businesses for more than 20 years.
About V3 Lending
Based in Dallas, TX, V³ Lending is a commercial capital origination firm for all income producing properties nationwide. Since 2006, we have been offering our clients access to banking lenders, non-banking lenders, SBA, USDA, Conventional, REITs, Hedge Funds, insurance company, and agency loans. Our 98% closing rate is evidence of our commitment to work through any and all hurdles in the commercial capital market.
V3 Lending approaches commercial real estate and business lending with our clients in mind. We understand that each client’s situation is unique and not everyone falls under a black and white lending guideline. Business owners and real estate investors frequently need customized financing solutions that resolve their unique situation. V³ Lending’s objective is to adapt to the existing lending environment by offering our clients a competitive solution for their commercial capital needs.