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Harbor Group buys $1.8B multifamily portfolio 9,677-unit package spans five major metro areas

Jordan Slone, Philadelphia and Washington, D.C.

Jordan Slone’s Harbor Group International acquired a 9,677-unit rental portfolio from Lone Star Funds for $1.8 billion, The Real Dealhas learned.

The purch上海夜网

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ase was financed with acquisition loans from New York Community Bank ($512 million) and Berkadia Commercial Mortgage ($930 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 said the largest groupings of units, which he said consist entirely of middle-income housing, are concentrated around the Washington, D.C., and Philadelphia metros.

The residential portion of the company will now爱上海同城手机版

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be a little over 30,000 units, Slo上海夜网

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ne said. We re looking to hold on to these for a while. These are great cash flowing properties.

Meridian Capital Group represented Harbor Group in the deal and Eastdil Secured represented private equity firm Lone Star, the seller.

Harbor Group, which owns nearly 5 million square feet of commercial property, is headquartered in Norfolk, Virginia, but has significant holdings in New York City. Last year, along with Isaac Kasirer, the firm acquired a 38-bui上海贵族宝贝论坛

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lding multifamily portfolio in the Bronx for which it paid $140 million. In 2015, it bought a上海千花网交友

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retail condo at 445 Fifth Avenue for $68 million.

Editor s note: An earlier version of this story misstated the amount of the Berkadia loan. 

Tags: Commercial Real Estate, harbor group international, jordan slone, lone star funds, Multifamily Market
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