Harbor Group-Led Team Inks Refi’s for 8 Colorado Properties
Harbor Group International (HGI), along with The Garrett Companies and Telis Group funded the $630.5 million recapitalization of an 11-asset multifamily development portfolio. Eight of the multifamily properties are in Colorado.
The transaction involved a complex financial structure requiring coordination with nine different lenders across a diverse range of markets.
The portfolio spans 2,192 units across four states. In addition to Colorado, there was one property in Minnesota, one property in Indiana and one property in Arizona. Development of the properties began from 2021 to 2023, and the portfolio is now approximately 75% complete, allowing for an expedited timeline of delivery and stabilization compared to a standard development project.
HGI’s Yisroel Berg added, “Through this recapitalization, we have exposure to a broad range of high-growth markets as well as strong development partners in The Garrett Companies and Telis Group as we execute a project of this scale to provide more housing across the U.S.”
Mo Beler and Aaron Appel of Walker and Dunlop facilitated the transaction.
