Newmark Arranges $122M Loan for Owner of 908-Unit Irving Apartment Community

Newmark has arranged a $122 million loan for the refinancing of Alesio Urban Center, a 908-unit apartment community in Irving. Newmark’s Henry Stimler, Bill Weber and Ari Schwartzbard arranged the five-year fixed-rate loan through global investment management firm KKR on behalf of the borrower, Harbor Group International. Harbor bought the property in 2021. That purchase was financed with a $117.6 million loan from KREF Lending.

Alesio Urban Center offers studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances and quartz countertops, as well as new hardware, lighting and cabinetry. Amenities include five pools, six courtyards, a fitness center, outdoor grilling and dining stations, running trails and a game lounge. Rooms range in size form 386 square feet to over 2,000 square feet with rent running from $965 a month to $5,620 a month.