HFF Treats Venterra to Medical District Acquisition
- Jun 08, 2015
Venterra Realty continues its expansion in San Antonio. Specializing in the identification, finance, acquisition and management of multifamily residential communities in the southern United States, the firm recently acquired a 390-unit Class A community in the Medical District area of San Antonio.
The acquisition was secured by HFF with a five-year, 3.06 percent fixed-rate loan with a life company correspondent lender. The HFF debt placement team representing the borrower was led by director Cortney Cole and real estate analyst Jordan Finch.
Ventana Apartments consists of 25 two- and three-story residential properties spread across 380,076 square feet of property, and includes one-, two- and three-bedroom units. Community amenities include two swimming pools with cabanas, fitness and business centers, a clubhouse and covered parking.
Occupancy of 95 percent at the time of the purchase relates to the community’s convenient location at 11020 Huebner Oaks, near the intersection of Huebner Road and Interstate 10. The residents have access to retail and entertainment venues including Huebner Oaks Shopping Center, Six Flag Fiesta Texas and Regal Huebner Oaks Stadium 14 & RPX, as well as to schools including Locke Hill Elementary School, Hobby Middle School and Clark High School. Major employers have offices nearby, including Texas Medical Center, the University of Texas Health Science Center and USAA.
Photo courtesy of Venterra Living.