HOUSTON—HFF has arranged acquisition financing for Calais at Courtlandt Square, a 356-unit, class A mid-rise apartment community in the Midtown submarket.

Working on behalf of the borrower, Venterra Realty, HFF placed the seven-year acquisition loan with a balance sheet lender. The loan has a fixed-rate of 3.14 percent with three and a half years of interest only payments. HFF did not offer further comments about the transaction. Upon acquisition, Venterra will rebrand the property as Calais Midtown and will implement an interior upgrade program as units turn that will include new flooring and appliances, as well as enhancing the property's exteriors and amenities, including renovations to the leasing office, fitness center, business center and pool/courtyard areas.

The asset is located at the intersection of Louisiana and Elgin streets, and situated between Houston's Central Business District and Museum District. The property is proximate to Interstate 69 (Highway 59) and Interstate 45, connecting residents to major employment centers, including downtown and the Texas Medical Center.