News Column

United States : HFF arranges acquisition financing for Fairways at South Shore in League City, Texas

July 17, 2014

HFF announced today that it has arranged acquisition financing for Fairways at South Shore, a 332-unit fractured condominium property in League City, Texas.

HFF worked exclusively on behalf of the borrower, Venterra Realty, to secure a seven-year, 4.495 percent fixed-rate acquisition loan with four years of interest-only payments through a CMBS lender. HFF will also service the securitized loan.

Fairways at South Shore is located at 3045 Marina Bay Drive within the South Shore Harbour master planned community overlooking the South Shore Harbor Golf Course, approximately 28 miles southeast of downtown Houston. Completed in 1999, the property consists of 332 units with an additional 100 units held by individual owners. Community amenities include a resort-style swimming pool, athletic lap pool, outdoor bar, fitness center, billiards room, sports court, clubhouse, business center and car care center.

The HFF debt placement team representing the borrower was led by director Cortney Cole and real estate analyst JC Clemens, Jr.

Venterra specializes in the identification, finance, acquisition and management of vmultifamily 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 alue that generates gross annual income in excess of $180 million. The organization has completed in excess of $2.2 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs more than 500 people.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters