Holliday Fenoglio Fowler L.P. (HFF) on Oct. 2 announced the financing for Villa Lago, a 204-unit, Class A garden-style apartment community in Fort Worth.
The HFF team worked exclusively on behalf of the borrower, Venterra Realty, to place the seven-year, fixed-rate loan with a life company lender at an interest rate of 4.48 percent. Loan proceeds were used to refinance existing debt.
Villa Lago is located at 8201 Boat Club Road less than six miles north of Interstate 820 in the northwest Fort Worth submarket of Tarrant County. Completed in 2008, the property sits on an 11.5-acre site consisting of 10 two- and three-story residential buildings comprising units averaging 912 square feet. Units feature walk-in closets, hardwood-style flooring, oversized garden tubs, in-unit washers and dryers, and patios or balconies. Community amenities include a swimming pool, outdoor grilling areas, fitness center, business center, two bark parks, covered parking/detached garages and views of nearby Eagle Mountain Lake.
The HFF debt placement team representing Venterra included managing directors Cortney Cole and Steve Heldenfels.