HOUSTON, TX – HFF announced today that it has arranged a refinancing for Waters Edge Apartments (top left photo), a 184-unit multi-housing community in northwest Austin, Texas.
Working exclusively on behalf of Venterra Realty, HFF placed the seven-year, adjustable-rate, securitized loan through Freddie Mac (Federal Home Loan Mortgage Corporation).
HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program. Proceeds are refinancing an existing financing on the property that was arranged by HFF in 2006.
Waters Edge Apartments is located at 12330 Metric Boulevard just west of Interstate Highway 35 in north Austin. Situated on 6.62 acres, the property has seven buildings with one- and two-bedroom apartments and townhomes averaging 760 square feet each. Community amenities include a two-story fitness pavilion, sports court, resort-style pool, business center and entertainment room. Venterra at Waters Edge is 95 percent occupied.
The HFF team representing Venterra Realty was led by director Cortney Cole.
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 $850 million in value that generates gross annual income in excess of $125 million. The organization has completed in excess of $1.5 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs approximately 450 people.
Contacts:
Cortney R. Cole, HFF Director, (713) 852-3500, ccole@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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