CBRE’s Debt & Structured Finance team originated $34.5 million in financing for the acquisition of Provenza at Windhaven, a new luxury apartment community in Lewisville, Texas. The 324-unit Class A community is located at 4900 Windhaven Parkway on the outskirts of the Dallas-Fort Worth metropolitan area.
Christopher Apone and Charles Foschini of CBRE’s Miami, Florida, office arranged an eight-year loan on behalf of Momentum Real Estate Partners with an interest-only period from USAA.
“Life companies have become increasingly aggressive on quality assets for quality sponsors,” said Mr. Apone, CBRE Senior Vice President of South Florida Markets.
“While we ran a competitive process that included both agency lenders, USAA came to the table with extremely competitive terms that included a flexible prepayment schedule, unique for life companies and very important for a closed end fund,” said Mr. Foschini, CBRE Vice Chairman of South Florida Markets.
Completed in 2015, Provenza at Windhaven offers tenants unmatched interiors that include gourmet kitchens with granite countertops and prep islands, stainless steel appliances, wood-style flooring, and modern wood cabinetry. Along with a prestigious address, community amenities include a resort-style swimming pool and cabanas, al fresco grilling stations, state-of-the-art fitness center, private courtyards, executive club lounge, a dog park with wash station, and a game room.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
