Wednesday, May 8, 2013

HFF arranges financing for Calais Park in St. Petersburg, FL




                  Calais Park, Downtown St. Petersburg, FL
  
HOUSTON, TX – HFF announced today that it has arranged financing for Calais Park, a 261-unit, Class A multi-housing community in St. Petersburg, Florida.

Cortney Cole
                Venterra Realty purchased the property in a joint-venture partnership with Dome Equities LLC with the assistance of a seven-year, fixed-rate loan with an interest rate of 3.70 percent and two years of interest only payments that HFF secured through GE Capital Real Estate. 

                Calais Park is situated on more than 22 acres at 5800 Calais Lane less than one half mile to the east of Interstate 275 and close to downtown St. Petersburg, the Saint Petersburg-Clearwater International Airport and the Tampa International Airport. 

Completed in 2003, the property features one-, two- and three-bedroom units averaging 1,215 square feet each.  Community amenities include a 24/7fitness center, laundry center, heated pool and Jacuzzi spa, attached and detached garages and a gated entry.  Calais Park is 96.7 percent leased.

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 $1 billion in value that generates gross annual income in excess of $90 million. 

  The organization has completed in excess of $2 billion of real estate transactions.  Venterra has offices in both Houston and Toronto and employs over 450 people.

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

Kristen M. Murphy
Associate Director
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

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