West Mint News Today

Harbor Group International secured a $200.6 million debt package to refinance most of a multifamily portfolio it acquired two years ago.

Harbor Group International (HGI) has acquired an eight-property multifamily portfolio for a JV of McDowell Properties and Angelo Gordon for $309 million. Know as The Southern Piedmont Portfolio, the package includes 2,322 units spread across suburban submarkets in North Carolina and Virginia. HGI plans a $13 million capital expenditure program to upgrade and modernize the properties, which has an average vintage in the early 1990s, with about 71 percent of the garden-style units featuring class...