Venterra Picks, HFF Puts Up the Money
- Oct 22, 2015
Balmoral Village, a 312-unit, garden-style multi-housing community in the Atlanta suburb of Peachtree City, received financing. Venterra Realty is the borrower of the five-year acquisition loan which has a fixed-rate of 3.33 percent with three years of interest only payments. HFF’s debt placement team led by Directors Cortney Cole and Chip Sykes secured the acquisition financing on behalf of Venterra, through a life company lender of undisclosed identity.
Located at 450 South Peacthree Parkway, Balmoral Village is approximately three miles south from State Route 54 and 35 miles southwest of Atlanta’s central business district. The property is also about 1.5 miles from the Planterra Ridge Golf Club, connected by one of Peachtree City’s more than 90 miles of multi-use paths for pedestrians, cyclists and golf carts. The community features a mix of one-, two- and three-bedroom townhomes and apartments. The units range in size from 662 to 1,450 square feet and provide tenants access to a variety of community amenities including two resort-style swimming pools, sundeck with barbecue grills, two tennis courts, a fitness center, clubhouse, dog park, car care center, and children’s playground. The property was 97 percent leased at the time of the closing, according to HFF.
Venterra currently manages a portfolio of approximately 17,000 multifamily units in the southern United States, totaling more than $1.45 billion in value. The company specializes in the identification, finance, acquisition, and management of multifamily residential communities, and employs more than 500 people in its Houston and Toronto offices.
Image source: balmoralvillageapts.com