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| Cortney Cole |
HOUSTON, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announces financing for Valencia at Westchase,
a 312-unit, garden-style apartment community in Tampa, Florida.
The HFF team
worked exclusively on behalf of the borrower, Venterra Realty, to place the
seven-year, fixed-rate loan with a life company lender at an interest rate of
4.28 percent.
Terms of the loan include interest-only payments for the first
three years. Loan proceeds were used to refinance existing debt.
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| Preston Reid |
Valencia at
Westchase consists of 13 residential buildings oriented around a large central
pond.
Units are configured in a variety of one-, two-
and three-bedroom floor plans totaling 305,832 rentable squarefeet with
amenities, including hardwood-style flooring, in-unit washers and dryers,
walk-in closets, smart home features, and patios or balconies.
Community amenities include a swimming pool,
grilling area, fitness center, business center, playground and bark park.
Valencia at Westchase is located at 8802 Brennan
Circle approximately 6.5 miles northwest of Tampa International Airport and 11
miles from the Tampa CBD. The property is 95 percent occupied.
The HFF debt
placement team representing Venterra included managing director Cortney Cole,
director Preston Reid and analyst Sterling Curry.
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| Sterling Curry |
Venterra Realty (Venterra) specializes in
the identification, finance, acquisition and management of multifamily
residential communities in the southern United States.
Venterra
currently manages a portfolio of approximately 15,000 multifamily units
totaling more than $1.6 billion in value. The organization has completed in
excess of $4 billion of real estate transactions.
Venterra is headquartered in Toronto and
Houston; and employs more than 550 people.
CONTACTS:
CORTNEY COLE
HFF Managing Director
(713) 852-3500
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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