Acquisition financing for Sheldon Palms in Tampa, Florida arranged by HFF
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Sheldon Palms, a 312-unit, garden-style multi-housing community in Tampa, Florida.
Working on behalf of the borrower, Venterra Realty, HFF placed the three-year, partial interest only floating-rate acquisition loan with a national bank.
Approximately 12 miles northwest of downtown and three miles from the waterfront, Sheldon Palms is located at 8802 Brennan Circle just off Sheldon Road between Waters and Hillsborough Avenues in Tampa’s West Bay neighborhood. The 93-percent-leased property has 13 residential buildings featuring one-, two- and three-bedroom floor plans. Community amenities include a swimming pool, spa, outdoor grilling areas, lighted tennis courts, fitness center and clubhouse. Upon acquisition, Venterra will enhance community amenities as well as implement upgrades to unit interiors.
The HFF debt placement team representing the borrower was led by director Cortney Cole and associate director Preston Reid.
About 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 17,000 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 $2.6 billion of real estate transactions. Venterra has offices in both Houston and Toronto and employs more than 500 people.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.