 |
| Belterra Apartments, 7001 Sandshell Boulevard, Fort Worth, TX |
 |
| Cortney Cole |
HOUSTON, TX – HFF announced today that it has arranged
acquisition financing for Belterra, a 288-unit, Class A multi-housing
community in Fort Worth, Texas.
Working on behalf of the borrower, Venterra Realty, HFF
placed the entire five-year, 3.12 percent fixed-rate loan (with interest-only
payments throughout the term) with PPM Finance, Inc.
Belterra is located at 7001 Sandshell Boulevard, east of
Interstate 35 West and south of Basswood Boulevard within the acclaimed Keller
Independent School District, approximately nine miles north of downtown Fort
Worth.
Completed in 2005, the property has one-, two- and
three-bedroom units averaging 966 square feet.
Community amenities include a swimming pool, hot tub, fireside lounge
areas, basketball court, fitness center, clubhouse, business center, billiards
lounge and car care center. The
property is 94 percent leased.
 |
| Steve Heldenfels |
The HFF debt placement team representing the borrower was
led by director Cortney Cole and managing director Steve Heldenfels.
“Upon acquisition Venterra plans to execute a minor capital
upgrade program to both the property exterior as well as unit interiors,” Cole
said.
“The property will also benefit
from the implementation of Venterra’s property management expertise and proven
management platform, including revenue optimization technology, which is not
currently being used at the property.”
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
No comments:
Post a Comment