CYPRESS – Ontario-based Venterra Realty has purchased Coles Crossing from RAIT Financial Trust.
Located on 34.5 acres at 12500 Barker Cypress Rd. near SH 6, Coles Crossing is a 370-unit multifamily complex built in 2003. It offers one-, two-, and three-bedroom units ranging from 678 to 1,376 sf.
HFF arranged acquisition financing through a life company correspondent lender on behalf of Venterra. The loan has a seven-year term fixed at 3.21 percent with two one-year options and includes three years of interest-only payments followed by a 30-year amortization schedule.
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