HOUSTON, TX – HFF announced that it has closed the sale of and arranged financing for Shadowbrooke (top left photo) and Silverbrooke (middle right photo), multi-housing communities totaling 552 units in Stafford, Texas. HFF marketed the properties on behalf of the sellers, Shadowbrooke Apts, Ltd. (Shadowbrooke) and Shadowbrooke Partners, L.P. and CTDB Funding Company, a joint venture between Captec Financial Group and Drawbridge Special Opportunities Fund (Silverbrooke).
Venterra Realty purchased Shadowbrooke and Silverbrooke in two separate transactions, which were facilitated by fixed-rate acquisition loans that HFF secured through PPM Finance, Inc. Purchase price and loan amounts are confidential.
Shadowbrooke and Silverbooke are located at 1025 Dulles Avenue and 1020 Brand Lane respectively in Stafford, about 18 miles southwest of downtown Houston.
Shadowbrooke was completed in 2003 and features 240 units that are 95.8 percent leased. Completed in 2007, Silverbrooke has 312 units and is 96.5 percent occupied.
The HFF investment sales team representing the sellers included senior managing directors Craig LaFollette, Todd Stewart and Todd Marix, director Tre Banks and associate director Chris Curry. HFF’s debt placement team representing Venterra Realty was led by director Cortney Cole.
Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States. Venterra currently manages a portfolio of multi-family real estate assets totaling over $600 million in value that generates gross annual income in excess of $80 million. The organization has completed in excess of $1.3 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs over 350 people.
Contacts:
Cortney Cole, HFF Director, (713) 852-3500, ccole@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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