Harbor Group Acquires MultiFamily Property In Round Rock For $49.6M Loan From Fannie Mae

The property involved in this transaction is a MultiFamily asset located at 2670 South A W Grimes Boulevard in Round Rock. It comprises 336 units with a total square footage of 303,680. The property was acquired by the landlord, Harbor Group, through a loan.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $49,555,000
• Lender: Fannie Mae
• Landlord: Harbor Group
• Brokers: William Weber, Matthew Mense, Henry Stimler, Ari Schwartzbard, Ricky Warner, and Dan Sarsfield - Newmark
• Loan Type: Acquisition
• Loan Terms: 7-yr Term; 65% LTV; 5.31% All-in Rate; Full Term IO

The loan for this transaction was provided by Fannie Mae. The property was represented by brokers William Weber, Matthew Mense, Henry Stimler, Ari Schwartzbard, Ricky Warner, and Dan Sarsfield from Newmark. The loan amount was $49,555,000 with a 7-year term, 65% loan-to-value ratio, 5.31% all-in rate, and a full-term interest-only payment structure.