HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for Villa Lago, a 204-unit, Class A garden-style apartment community in Fort Worth, Texas.
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 4.48 percent. Loan proceeds were used to refinance existing debt.
Villa Lago is located at 8201 Boat Club Road less than six miles north of Interstate 820 in the northwest Fort Worth submarket of Tarrant County. Completed in 2008, the property sits on an 11.5-acre site consisting of 10 two- and three-story residential buildings comprising units averaging 912 square feet. Units feature walk-in closets, hardwood-style flooring, oversized garden tubs, in-unit washers and dryers, and patios or balconies. Community amenities include a swimming pool, outdoor grilling areas, fitness center, business center, two bark parks, covered parking/detached garages and views of nearby Eagle Mountain Lake.
The HFF debt placement team representing Venterra included managing directors Cortney Cole and Steve Heldenfels.
About Venterra Realty: 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.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.