HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured acquisition financing for The District, a 425-unit, four-story, wrap-style apartment community in Orlando, Florida.
HFF worked exclusively on behalf of the borrower, Venterra Realty (Venterra) to place the seven-year, 4.06 percent fixed-rate loan with a correspondent life company lender. The loan has four years of interest only payments.
The District is situated on 10.1 acres at 9702 Universal Boulevard. The property is near the area’s top tourist destinations and approximately two miles east of SouthPark Center, a 2.9 million-square-foot office park that is home to globally recognizable companies and nearly 10,000 employees. In addition, Orlando’s central business district is less than 12 miles northeast of the property. The District offers studio, one-, two- and three-bedroom units averaging 942 square feet and 25,910 square feet of ground-floor retail situated around a central courtyard with a resort-style pool. Additional amenities include outdoor fire pits and cooking stations, a two-level health and fitness center, multimedia lounge, business and conference center, cyber café, game room and four-level parking garage.
The HFF debt placement team representing Venterra was led by managing director Cortney Cole and associate director Brett Moss.
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 17,000 multifamily units totaling more than $1.45 billion in value that generates gross annual income in excess of $180 million. The organization has completed in excess of $4 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs more than 500 people.
About HFF: Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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 sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.