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| (Photo by C2 Design Group). Gateway North Apartments, 2681 Roosevelt Boulevard, Clearwater, FL |
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| Cortney Cole |
TAMPA, FL – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
financing for Gateway North, a
newly-built, 342-unit, Class A multi-housing community in the Tampa suburb of
Clearwater, Florida.
HFF marketed the offering
exclusively on behalf of the seller.
Venterra Realty (Venterra) purchased the asset for an undisclosed
amount. Additionally, HFF worked on
behalf of Venterra to secure the seven-year, 3.95 percent fixed-rate
acquisition loan through Prudential Mortgage Capital Company.
Gateway North was
completed in 2015 and offers amenities including a swimming pool with private
cabanas, outdoor kitchens and bars, dog park, walking paths, state-of-the-art
fitness center, clubhouse, high-tech business center, car wash, electric car
charging stations and detached garages.
Designed in a transitional
Craftsman architectural style, the property has one-, two- and three-bedroom
floor plans averaging 943 square feet each.
The property is located at 2681 Roosevelt Boulevard proximate to the
Gateway office market, one of Tampa Bay’s largest employment markets.
The HFF investment sales
team was led by managing director Matt
Mitchell and associate director Zach
Nolan.
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| Matt Mitchell |
HFF’s debt placement team was led by director Cortney Cole and associate director Preston Reid.
“After a prolonged period of limited new
apartment development in Pinellas County, Gateway North was met with
significant demand from renters.
"The property’s rapid leasing velocity allowed the developer to execute its business plan and sell the property while still in lease-up,” said Mitchell.
"The property’s rapid leasing velocity allowed the developer to execute its business plan and sell the property while still in lease-up,” said Mitchell.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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