Wednesday, May 18, 2011

Refinancing of southeast Houston multi-housing community arranged by HFF


HOUSTON, TX – HFF announced today that it has arranged refinancing for College View (top left photo), a 104-unit multi-housing community adjacent to San Jacinto Community College  in southeast Houston.

HFF worked on behalf of Venterra Realty to secure the 10-year, 5.66 percent fixed-rate loan with Morgan Stanley Mortgage Capital, Inc.  Loan proceeds replaced maturing debt on the property

College View Apartments is situated on 5.5 acres at 333 Luella Boulevard about 25 miles southeast of downtown Houston in La Porte.  The property has seven residential buildings with one-, two- and three-bedroom units averaging 819 square feet each.  Community amenities at the 90 percent leased property include a swimming pool and business center.

The HFF team that represented Venterra Realty was led by director Cortney Cole (lower right photo).

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 $600 million in value that generates gross annual income in excess of $80 million.  The organization has completed in excess of $1.3 billion of real estate transactions.  Venterra has offices in both Houston and Toronto and employs over 350 people.

Cortney R. Cole, HFF Director, (713) 852-3500,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500                                                    

No comments: