Venterra Realty Acquires Texas Community
Upon closing, the Class A property was 94 percent leased.
By Anca Gagiuc
Dallas—HFF has secured acquisition financing for a 209-unit, Class A community situated in the Fort Worth, Texas, suburb of North Richland Hills. The commercial real estate firm represented the borrower, Venterra Realty, to place a seven-year, 4.06 percent fixed-rate loan with a life insurance company.
Venue at Hometown is a six-building property located at 9012 Courtenay St., less than 3 miles northeast of Loop 820 and North East Mall in Richland Hills. The unit mix consists of one-, two- and three-bedroom floor plans positioned around a landscaped center courtyard, with approximately 20,000 square feet of ground-floor retail. Common area amenities include a swimming pool with sundeck, a fitness center with flat-screen televisions, a clubhouse and a business center. At the time of the deal, the community was 94 percent occupied.
Cortney Cole and Steve Heldenfels, managing directors, led the HFF debt placement team representing Venterra.
Images courtesy of Yardi Matrix
