DALLAS—Harbor Group International of Norfolk,VA, will pay $151 million for the acquisition ofThe England Group Portfolio, a 2,368-unitmultifamily portfolio consisting of nine institutional-qualityassets in some of the most sought-after submarkets in theDallas/Fort Worth and Houston areas.
CBRE Capital Markets' Debt & Structured Finance teamarranged financing for the deal in the form of a total ofnine loans in three separate closings.Freddie Mac provided seven new mortgages, eachwith a seven-year term and a floating interest rate. In addition,Freddie Mac provided two supplemental loans on two of the assets,each with a 7.58-year term and a fixed rate, in conjunction withthe approval of the first mortgage assumptions on those assets.
The properties included in the transaction were:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
