ACRE provides $351M in refinancing for a 1,572-unit, eight-property multifamily portfolio developed by Harbor Group International, The Garrett Companies, and Telis Group.
ACRE has provided a $351 million loan facility to refinance a 1,572-unit multifamily portfolio spanning Colorado, Minnesota, Indiana, and Arizona. The eight properties were developed between 2024 and 2026 and were previously part of a larger 11-asset portfolio recapitalized by a joint venture involving affiliates of Harbor Group International (HGI), The Garrett Companies, and Telis Group in early 2025. According to Yisroel Berg, chief investment officer for multifamily at HGI, the financing replaces construction debt and provides stabilization runway for assets with current leasing occupancies ranging from 50 to 90 percent.
Walker & Dunlop negotiated the transaction on behalf of the sponsorship. The portfolio includes the Nash in Rosemont, Minn.; the Maverick in Greenwood, Ind.; Agave Ranch in Glendale, Ariz.; Stone Mesa Flats and Citizen on Constitution in Colorado Springs, Colo.; Artifact Townhomes and Lennox at Copperleaf in Aurora, Colo.; and Ara Townhomes & Flats in Castle Rock, Colo.
Cervelli Real Estate & Property Management adds three multifamily properties totaling three apartment buildings in Jersey City to its management portfolio.
Developers propose a five-unit townhome project at 504 S. 900 East in Salt Lake City's East Central neighborhood.
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