HGI Seals 2M Refinancing for Texas Property
Image by Jeremy Morris via Unsplash Affiliates of Harbor Group International have secured a $122 million refinancing loan for Alesio Urban Center i...
Image by Jeremy Morris via Unsplash Affiliates of Harbor Group International have secured a $122 million refinancing loan for Alesio Urban Center in Irving, Texas. The 908-unit multifamily community includes 55,000 square feet of retail space. Newmark secured the financing, transferring its original debt to KKR 's managed insurance capital at a fixed rate. This comes HGI is undertakes a $4.5 million value-add plan. 'With the current lender landscape and the distinct lack of liquidity, we worked with KKR to find a fixed-rate option,' Newmark executive managing director Henry Stimler told Multi-Housing News .