HFF secures $24.5M permanent financing for Alexan Shadow Creek Ranch in Pearland, TX

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $24.5 million in permanent financing for Alexan Shadow Creek Ranch (lower left photo), a 392-unit, Class A multi-housing complex in Pearland’s 3,500-acre Shadow Creek Ranch master-planned community.

Working exclusively on behalf of Trammell Crow Residential, HFF executive managing director Jody Thornton (top right photo)  and associate director John Ahmed placed the 10-year, fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).

Proceeds will be used to retire the existing construction loan and recapitalize the asset with assumable, non-recourse financing. HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.

Alexan Shadow Creek Ranch is situated on more than 20 acres at 11900 Shadow Creek Parkway, 13 miles south of downtown Houston and close to Pearland Town Center, Hobby Airport and Tom Bass Regional Park. Completed in 2009, the property has 17 buildings with one- and two-bedroom units that are currently 95% occupied. Community amenities include a swimming pool, clubhouse, business center, fitness center, and parking garages.

Headquartered in Dallas, Trammell Crow Residential is a national multi-family real estate firm that owns multi-family rental and condominium communities in most major markets under such prestigious brand names as Alexan and Wynhaven.

Contacts:

John Ahmed, HFF Associate Director, (214) 265-0880, jahmed@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges refinancing for San Antonio and Houston multi-housing communities

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged refinancing for Salado Springs (lower right photo), a 352-unit multi-housing property in San Antonio, and Sandstone Apartments (lower left photo), a 696-unit, multi-housing community in Houston, Texas.

HFF director Cortney Cole worked exclusively on behalf of Venterra Realty to secure the five-year, fixed-rate on-book loans through Wells Fargo Commercial Mortgage Originations.

Salado Springs is located at 12727 Vista del Norte centrally situated between Interstate 10, US 281, Loop 410 and Loop 1604 approximately eight miles north of San Antonio’s central business district.

Currently 95% occupied, the Class A property features 14 buildings with one-, two- and three-bedroom units averaging 856 square feet each.

Community amenities include a clubhouse, resort-style swimming pool, fitness center, movie theatre, jogging trails and covered parking.

Located at 4201 Fairmont Parkway, Sandstone Apartments is situated immediately inside Beltway 8 and close to the Houston Ship Channel, NASA and Interstate 45 approximately 13 miles southeast of downtown Houston in Pasadena.

The 90% leased property has 54 two-story buildings with one-, two- and three-bedroom units averaging 761 square feet each. Residents have access to six pools, tennis courts, a community center, fitness center and laundry facility.

Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States. Venterra currently manages a portfolio of multi-family real estate assets totaling over $600 million in value that generates gross annual income in excess of $80 million.

The organization has completed in excess of $1 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs over 350 people.

Contacts:

Cortney R. Cole, HFF Director, (713) 852-3500, ccole@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com