Offering backed by bridge loans on multifamily assets across the U.S.
Norfolk, Va. – May 19, 2021 – Harbor Group International, LLC (“HGI”), a privately owned international real estate investment and management firm, today announced the close of its first CRE CLO, HGI 2021-FL1 (“the CLO”), with an aggregate deal balance of approximately $558 million. The offering is comprised exclusively of bridge loans on multifamily assets across the United States.
“The close of our initial CLO marks a significant progression for Harbor Group International as we grow our debt and alternatives investment platform and adapt our business to meet changing market needs,” said Richard Litton, President, HGI. “We intend to continue to leverage our deep multifamily expertise to be a CLO manager and bridge lender on a long-term basis.”
In 2020, HGI established its whole loan bridge lending platform, originating senior mortgage loans for multifamily borrowers seeking short-term financing for new construction and value-add assets. In addition to the whole loan platform, HGI has been sourcing and managing debt investments for more than a decade. The firm currently manages approximately $2.3 billion of real estate debt investments, including whole loans, Freddie Mac structured debt products, preferred equity investments and mezzanine loans.
“The CLO offering further establishes Harbor Group International’s strong national reputation as a debt investor and reliable source of financing to multifamily borrowers,” Litton added. “Our deep industry relationships and broad market penetration across the U.S. continue to allow us to generate strong transaction pipelines across the capital stack for our investors.”
Goldman Sachs was the Sole Structuring Agent and Co-Lead Manager for the CLO offering. JP Morgan and Amherst Pierpont served as Co-Managers.
About Harbor Group International
Harbor Group International, LLC, including its affiliates, is a private real estate and real estate related investment and management firm which controls a portfolio of worldwide assets valued at $13.5 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore, Los Angeles and Tel Aviv. The company’s real estate holdings include 4.3 million square feet of commercial properties and 48,000 apartment units. For additional information, please visit www.harborgroupint.com.