 |
| Cortney Cole |
HOUSTON, TX – HFF
announced it has secured refinancing for Shadowbrooke and Silverbrooke,
two Class A multi-housing communities totaling 552 units in Stafford, Texas.
HFF worked exclusively on behalf of the borrower, Venterra
Realty, to arrange the refinancing in two separate transactions.
HFF
secured the five-year, 3.07 percent fixed-rate loans with two years of
interest-only payments through Freddie Mac’s (Federal Home Loan Mortgage
Corporation) CME Program.
The securitized loans will be serviced by HFF
through its Freddie Mac Program Plus® Seller/Servicer program. HFF
brokered the sale of the properties and arranged acquisition financing for
Venterra when the company originally purchased the assets in 2011.
Shadowbrooke and Silverbrooke 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 96.15 percent occupied. The properties are adjoined by a private
park including shared amenities such as a jogging trail, sand volleyball court,
playground and putting green. Each houses its own resort-style swimming
pool, hot tubs, clubhouses and fitness centers.
The HFF debt placement team representing the borrower was led
by director Cortney Cole and real estate analyst Will Crawley.
Venterra
specializes in the identification, finance, acquisition and management of
multifamily residential communities in the southern United States.
Venterra currently manages a portfolio of approximately 17,000 multifamily units totaling more than $1.45 billion in value that generates gross annual income in excess of $180 million.
The organization has completed in excess of $2.2 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs more than 500 people.
Venterra currently manages a portfolio of approximately 17,000 multifamily units totaling more than $1.45 billion in value that generates gross annual income in excess of $180 million.
The organization has completed in excess of $2.2 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs more than 500 people.
For
a complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 |
Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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