HOUSTON—HFF has arranged financing for Carrington at Park Lakes, a 252-unit, Class A multi-housing community in northeast Houston.HFF worked exclusively on behalf of Venterra Realty to secure the seven-year, 3.07 percent, fixed-rate loan through a national life insurance company. Loan proceeds were used to acquire the property. HFF will also service the loan.
Carrington at Park Lakes is located at 4775 Wilson Road close to the Sam Houston Tollway (Beltway 8) and Redstone Golf Club in Humble, approximately 14 miles northeast of Houston's central business district. Completed in 2012, the property has one-, two- and three-bedroom floor plans averaging 1,125 square feet each. Community amenities include a pool, business center, cardio and strength training center, social room, arcade, foosball table and bbq area. Carrington at Park Lakes is 94 percent leased.
The HFF team representing Venterra was led by director Cortney Cole.
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 $1 billion in value that generates gross annual income in excess of $90 million. The organization has completed in excess of $2 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs over 450 people.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
