HFF Arranges Financing for Multi-housing in Northeast Houston

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.