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Harbor Group Secures $356M Financing for New England Apartment Portfolio
Walker & Dunlop, Inc. said Wednesday it arranged $356,411,000 in financing for the acquisition of four properties in eastern Massachusetts and Rhode Island. A Walker & Dunlop Capital Markets team led by Craig West arranged the portfolio financing on behalf of an affiliate of longtime client Harbor Group International, with Freddie Mac providing acquisition financing.
The portfolio comprises 1,817 units and approximately 1.8 million rentable square feet across four communities. Built between 1970 and 1974, the properties are located in Marlborough, Worcester and Bridgewater, MA, as well as Warwick, RI.
“The demand for multifamily rentals in New England’s suburban markets has grown steadily in recent years, fueled by strong population trends, job growth, and a resilient local economy,” said West, senior managing director, Capital Markets at Walker & Dunlop. “We are proud to support this acquisition, which represents a strategic opportunity for continued multifamily growth through this best-in-class partnership.”
Pictured: Royal Crest Marlboro apartments, Marlborough, MA.
- ◦Sale/Acquisition
- ◦Financing
