Tuesday, January 26, 2016

HFF closes sale of and arranges financing for Gateway North in suburban Tampa, FL


                                                                                       (Photo by C2 Design Group).

Gateway North Apartments, 2681 Roosevelt Boulevard, Clearwater, FL
Cortney Cole
 TAMPA, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Gateway North, a newly-built, 342-unit, Class A multi-housing community in the Tampa suburb of Clearwater, Florida.

HFF marketed the offering exclusively on behalf of the seller.  Venterra Realty (Venterra) purchased the asset for an undisclosed amount.  Additionally, HFF worked on behalf of Venterra to secure the seven-year, 3.95 percent fixed-rate acquisition loan through Prudential Mortgage Capital Company.

Gateway North was completed in 2015 and offers amenities including a swimming pool with private cabanas, outdoor kitchens and bars, dog park, walking paths, state-of-the-art fitness center, clubhouse, high-tech business center, car wash, electric car charging stations and detached garages. 

Designed in a transitional Craftsman architectural style, the property has one-, two- and three-bedroom floor plans averaging 943 square feet each.  

The property is located at 2681 Roosevelt Boulevard proximate to the Gateway office market, one of Tampa Bay’s largest employment markets.

The HFF investment sales team was led by managing director Matt Mitchell and associate director Zach Nolan.

Matt Mitchell

HFF’s debt placement team was led by director Cortney Cole and associate director Preston Reid.

 “After a prolonged period of limited new apartment development in Pinellas County, Gateway North was met with significant demand from renters.  

"The property’s rapid leasing velocity allowed the developer to execute its business plan and sell the property while still in lease-up,” said Mitchell.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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