 |
| Cortney Cole |
HOUSTON, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured financing for Coles Crossing, a 370-unit, Class A,
garden-style multi-housing community in the northwest Houston suburb of
Cypress, Texas.
Working exclusively on
behalf of the borrower, Venterra Realty (Venterra), HFF placed fixed-rate
acquisition financing through a life company correspondent lender.
The loan is for a term of seven years and
provides for two, one-year extensions at Venterra’s election.
The interest rate is 3.21
percent for the initial seven-year term and includes three years of
interest-only payments followed by a 30-year amortization.
The loan is subject to an initial period of
yield maintenance followed by a fixed, declining prepayment schedule.
Coles Crossing is situated
on 34.5 acres at 12500 Barker Cypress Road just north of Highway 290 in Cypress. The property is approximately 26 miles
northwest of Houston’s central business district and features one-, two- and
three-bedroom floor plans ranging from 678 to 1,376 square feet.
Community amenities
include a swimming pool, playground, fitness center, clubhouse, detached
garages and gated access. The property
is 94 percent occupied.
The HFF debt placement
team representing Venterra was led by managing director Cortney Cole.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment