Harbor Group buys $1.8B multifamily portfolio

Jordan Slone’s Harbor Group International acquired a 9,677-unit rental portfolio from Lone Star Funds for $1.8 billion, The Real Deal has learned. The purchase was financed with acquisitions loans from New York Community Bank ($512 million) and Berkadia Commercial Mortgage ($1.4 million). The latter loan was provided with Freddie Mac backing. The portfolio includes rental properties in the Washington. D.C., Philadelphia, Baltimore, Chicago and Boston areas. When reached for comment, Harbor Group’s CEO Jordan Slone […]

Source: Real Estate

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