December 5, 2017
Harbor Group International (HGI) secured $1.4 billion in acquisition financing for its $1.8 billion purchase of the Beacon Portfolio from affiliates of Lone Star Funds. The 25-property multifamily portfolio is located in the DC metro area, Pennsylvania, Maryland, Illinois, Massachusetts and New Jersey, and totals a combined 9,677 residential units.
Meridian Capital Group served as the exclusive debt capital markets advisor to Harbor, including arranging an innovative and highly-tailored financing package that afforded HGI a multi-tiered solution addressing its business plan for each asset.
The financing consists of a combination of Freddie Mac fixed- and floating-rate debt sourced through Berkadia, as well as five-year, fixed-rate, balance sheet financing provided by New York Community Bank. Meridian’s Ralph Herzka led a team that included Abe Hirsch and Zev Karpel. Lone Star was represented by Eastdil Secured.
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