HOUSTON, TX – HFF announced today that it has arranged financing and joint venture equity for Forest View (middle left photo) and Timbermill (lower right photo), two multi-housing communities totaling 472 units in The Woodlands, Texas.
HFF worked exclusively on behalf of Venterra Realty to secure the fixed-rate acquisition loans through Freddie Mac.
The seven-year, fixed-rate loans for Forest View and Timbermill include four years of interest-only payments with interest rates of 3.98 percent and 3.99 percent, respectively.
HFF will service the securitized loans through its Freddie Mac Program Plus® Seller/Servicer program. A fund managed by BayNorth Capital LLC is providing the joint venture equity for both properties.
Forest View is located at 4545 South Panther Creek Drive and Timbermill is located at 1481 Sawdust Road. Both properties are west of Interstate 45 and close to Woodlands Parkway, Waterway Square, The Woodlands Mall and Market Street in the Woodlands.
The 95 percent leased Forest View community has 256 units with an average unit size of 842 square feet. Timbermill, which is 97 percent leased, has 216 units averaging 839 square feet each.
Community amenities at each property include a sundeck and pool, laundry facilities, clubhouses and playgrounds.
The HFF team representing Venterra was led by director Cortney Cole (top right photo).
Contacts:
CORTNEY COLE
HFF Director
(713) 852-3500
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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