FORT WORTH — Venterra Realty, based in Houston, has acquired Venue at Hometown, a 209-unit multifamily community located in North Richland Hills, a suburb of Fort Worth.
Holliday Fenoglio Fowler (HFF) arranged acquisition financing for the transaction: a seven-year, 4 percent fixed-rate loan provided by a life insurance company. At the time of sale, the property was 94 percent leased.
Venterra operates from offices in Houston and Toronto, employs more than 500 people, and manages a portfolio of roughly 17,000 units nationwide.
Venue at Hometown sits at 9012 Courtenay Street, less than three miles northeast of Loop 820 and the North East Mall in Richland Hills. The community includes a mix of one-, two- and three-bedroom apartments arranged around a landscaped central courtyard, and about 20,000 square feet of ground-floor retail space. On-site amenities include a swimming pool with a sundeck, a fitness center equipped with flat-screen televisions, a clubhouse, and a business center. The property was 94 percent leased at the time of the acquisition.
The HFF debt placement team representing Venterra was led by managing directors Cortney Cole and Steve Heldenfels.
March 24, 2017 Realty News Report. Copyright 2017.