Blackstone Provides $124.6 Million Refinancing for Harbor Group's Dallas Mixed-Use Property
Blackstone provided $124.6 million to refinance Harbor Group International's Alesio Urban Center, a 908-unit apartment complex with 55,500 square feet of retail in Irving, Texas. The deal reflects renewed lending appetite for stabilized multifamily properties with strong sponsorship.
Blackstone provided $124.6 million in refinancing for Harbor Group International's Alesio Urban Center, a mixed-use apartment community in Irving, Texas, with the proceeds retiring existing debt and covering closing costs. Berkadia's Miami team of Charles Foschini, Christopher Apone, Shannon Wilson, and Lourdes Carranza-Alvarez arranged the transaction.
Harbor Group International purchased the asset in 2021 and secured a $122 million refinancing from KKR in 2023 before implementing a $4.5 million value-add plan, according to prior disclosures. The Blackstone refinancing replaces that prior debt and reflects the lender's view of the repositioned property's credit quality following the capital improvements.
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