Tuesday, February 17, 2015

HFF arranges acquisition financing for multi-housing community in Fort Worth, TX


Belterra Apartments, 7001 Sandshell Boulevard, Fort Worth, TX

Cortney Cole
HOUSTON, TX – HFF announced today that it has arranged acquisition financing for Belterra, a 288-unit, Class A multi-housing community in Fort Worth, Texas.

Working on behalf of the borrower, Venterra Realty, HFF placed the entire five-year, 3.12 percent fixed-rate loan (with interest-only payments throughout the term) with PPM Finance, Inc. 

Belterra is located at 7001 Sandshell Boulevard, east of Interstate 35 West and south of Basswood Boulevard within the acclaimed Keller Independent School District, approximately nine miles north of downtown Fort Worth. 

Completed in 2005, the property has one-, two- and three-bedroom units averaging 966 square feet.  

Community amenities include a swimming pool, hot tub, fireside lounge areas, basketball court, fitness center, clubhouse, business center, billiards lounge and car care center.  The property is 94 percent leased.

Steve Heldenfels
The HFF debt placement team representing the borrower was led by director Cortney Cole and managing director Steve Heldenfels.

“Upon acquisition Venterra plans to execute a minor capital upgrade program to both the property exterior as well as unit interiors,” Cole said.  

“The property will also benefit from the implementation of Venterra’s property management expertise and proven management platform, including revenue optimization technology, which is not currently being used at the property.”

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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