Updated Oct 29, 2024
Harbor Group International Secures $440M Refinance Loan For Multifamily Portfolio In Indianapolis, Florida, Dallas, Texas & Southeast
Indianapolis
$440,000,000
Units
5,264
Asset Type
MultiFamily
Closing
Jun 6, 2023
About this deal
AI
Harbor Group International (HGI) has secured $440 million in refinancing for its portfolio of 25 multifamily properties across the United States. The loans were arranged through KKR, Freddie Mac, and Fannie Mae, enabling HGI to mitigate risk and maximize asset value with favorable fixed-rate debt.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $440,000,000
- Units: 5,264
- Address: Multifamily Portfolio
- Markets: Indianapolis, Florida, Dallas, Texas & Southeast
The lenders involved in the refinancing deal are KKR, Freddie Mac, and Fannie Mae. The landlord of the portfolio is Harbor Group International, LLC, represented by Pete Petron and Lane Shea. The brokers who played a role in the transaction are Berkadia, Capital One, and Newmark.
Players
Indianapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93