Harbor Group lands $151m in Freddie Mac loans

Harbor Group International of Norfolk, Virginia received $151m in financing from Freddie Mac for the acquisition of The England Group Portfolio, a 2,368-unit multifamily portfolio in Texas. Freddie Mac provided seven floating rate mortgages, each with a seven-year term; and two supplemental fixed-rate loans on two of the assets, each with a 7.58-year term, in conjunction with the approval of the first mortgage assumptions on those assets.