Monday, January 14, 2013

HFF secures acquisition financing on behalf of Venterra Realty for San Antonio Class A multi-housing property



Westover Oaks Apartments, San Antonio, TX
 HOUSTON, TX – HFF announced today that it has arranged financing for Westover Oaks, a 256-unit, Class A multi-housing property in San Antonio,  Texas.

                HFF worked exclusively on behalf of Venterra Realty to secure the 10-year, 3.41 percent, fixed-rate loan with two years of interest-only payments through Lincoln Financial Group.  Loan proceeds were used to acquire the property.  HFF will also service the loan.

                Westover Oaks is located at 7727 Potranco Road northwest of San Antonio’s CBD in the thriving Westover Hills submarket in close proximity to major employers and multiple corporate campuses and call centers.  Completed in 2012, the property is 95 percent leased. 

The property is fully amenitized with interior construction features consisting of crown molding, wood flooring, granite countertops, stainless appliances and washer/dryer equipment. 

The HFF team representing Venterra 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 $90 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 over 450 people.

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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