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Harbor Group Acquires Beacon MF Portfolio for $1.8B

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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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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