Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a refinancing for Village Walk, a 240-unit, Class A, garden-style apartment community in Jacksonville, Florida.
HFF worked exclusively on behalf of the borrower, Venterra Realty (Venterra) to place the seven-year, 3.51 percent, fixed-rate loan with a life company lender.
Village Walk is located at 7651 Gate Parkway near the nexus of Loop 295 and Highway 202 in Jacksonville’s Southside submarket. The property is near retail amenities such as St. Johns Town Center; the University of North Florida campus; and employers such as Citibank, the Federal Bureau of Investigation, Bank of America, Deutsche Bank and numerous other financial services and insurance companies. Village Walk consists of 23, two-story buildings with residential units averaging 1,163 square feet and amenities, including gourmet kitchens, garden tubs, walk-in closets, nine-foot ceilings and in-unit washers and dryers. Common area features include a swimming pool, 24-hour fitness center, tanning bed, clubhouse, billiards room, business center, car wash and children’s playground. The property is 95 percent occupied.
The HFF debt placement team representing Venterra was led by managing directors Cortney Cole and Elliott Throne.
About Venterra Realty
Venterra Realty (Venterra) specializes in the identification, finance, acquisition and management of multifamily residential communities in the southern United States. Venterra currently manages a portfolio of approximately 15,000 multifamily units totaling more than $1.45 billion in value that generates gross annual income in excess of $180 million. The organization has completed in excess of $4 billion of real estate transactions. Venterra is headquartered in Toronto and employs more than 500 people.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.