La Porte Apartment Community Refinanced

by Katie Sloan

College View is a 104-unit community located adjacent to San Jacinto Community College.

La Porte, Texas — Holliday Fenoglio Fowler has arranged the refinancing of College View, a 104-unit multifamily property located in La Porte. The community is situated on 5.5 acres at 333 Luella Blvd., adjacent to San Jacinto Community College. It consists of seven buildings with a mix of one-, two- and three-bedroom residences. Units average 819 square feet each. Amenities include a swimming pool and a business center. Occupancy was 90 percent leased at the time of closing.

The loan, the amount of which was not disclosed, carries a 10-year term and a 5.66 percent fixed interest rate. The borrower was Venterra Realty and the lender was Morgan Stanley Capital. Cortney Cole led the Holliday Fenoglio Fowler team that arranged the deal.

— Coleman Wood

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