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| Calais at Courtlandt Square Apartments, Midtown Submarket, Houston, TX |
(photo by Yvonne Hondros)
HOUSTON, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged acquisition financing for
Calais at Courtlandt Square, a
356-unit, Class A mid-rise apartment community in Houston’s Midtown submarket.
Working on behalf of the
borrower, Venterra Realty, HFF placed the seven-year acquisition loan with a
balance sheet lender. The loan has a
fixed-rate of 3.14 percent with three and a half years of interest only payments.
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| Cortney Cole |
Calais at Courtlandt
Square is located at the intersection of Louisiana and Elgin Streets in the
heart of the culturally diverse Midtown neighborhood, which is situated between
Houston’s Central Business District and Museum District.
The property has a prime location proximate to
Interstates 69 (Highway 59) and 45 connecting residents to major employment
centers, including downtown and the Texas Medical Center.
Completed in 2003, the
92-percent-leased property has one-, two- and three-bedroom units ranging from
621 to 1,724 square feet.
Upon
acquisition, Venterra will rebrand the property as Calais Midtown and will
implement an interior upgrade program as units turn that will include new
flooring and appliances, as well as enhancing the property’s exteriors and
amenities, including renovations to the leasing office, fitness center,
business center and pool/courtyard areas.
The HFF debt placement
team representing the borrower was led by director Cortney Cole.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
HFF PR Coordinator,
Marketing
(713) 852-3500
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