Jordan E. Slone Of Harbor Group International Secures $356.4 Million Loan From Freddie Mac For Multifamily Acquisition

A four-property multifamily portfolio consisting of 1,817 units was involved in the acquisition deal. The properties are located at 19 Royal Crest Drive, 29 Duncannon Avenue, 51 Meadow Lane, and 42 Cedar Pond Drive in Marlborough, Worcester, and Bridgewater, Massachusetts, as well as Warwick, Rhode Island. The total loan amount for the acquisition was $356,411,000, arranged through Freddie Mac financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $356,411,000
• Lender: Freddie Mac
• Landlord: Jordan E. Slone - Harbor Group International
• Broker: Craig West - Walker & Dunlop
• Units: 1,817
• Market: Marlborough, Worcester & Bridgewater, MA; Warwick, RI
• Loan Type: Acquisition

The financing arrangement for the acquisition was facilitated by Walker & Dunlop, which highlights the partnership between the lender and the buyer in securing the funding needed for the portfolio's purchase. This transaction marks an important expansion of Harbor Group International’s presence in New England, reflecting ongoing demand for suburban rental properties in the region.