Reonomy | July 31, 2020
Reonomy, a leading provider of property intelligence, today announced the launch of the Commercial Mortgage-Backed Securities (CMBS) Data Enhancement to its platform. The addition of the CMBS data set allows Reonomy users to easily find refinance opportunities, view CMBS ongoing financial and loan reporting, access increased coverage of property data points, and more. The ability to take advantage of this feature through the robust Reonomy platform, which houses key data on the vast majority of commercial real estate (CRE) properties in the U.S., enables debt brokers and lenders to easily identify leads. The product enhancement provides data on over 150,000 properties and over 300,000 mortgages in the U.S.
prnewswire | October 20, 2020
Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, announced its acquisition of six surplus industrial buildings totaling 308,908 square feet in Plant City, Florida, in the Tampa MSA. The seller, Paradise Inc., is a producer and distributor of Candied Fruit brands throughout the country. The properties are a mile off the I-4 Corridor, running between Tampa and Orlando. The Tampa market has demonstrated strong fundamentals, with positive net absorption of over 1 million square feet year-to-date and a vacancy rate of 94.6%.
REAL ESTATE INVESTMENT
Harbor Group International, LLC | September 02, 2021
Affiliates of Harbor Group International, LLC, a privately owned international real estate investment and management firm, today announced a joint venture with Cammeby's International Group for the $1.05 billion acquisition of a portfolio of multifamily assets throughout New Jersey. The portfolio consists of 41 workforce housing communities, totaling 5,302 units.
HGI will invest approximately $46 million for capital improvements and enhancements across the properties. The firm will renovate 50% of the interior units and invest in operational improvements throughout the portfolio.
"As we continue to expand our investment platform, the acquisition of the Garden State portfolio represents the large-scale, attractive opportunities Harbor Group International identifies for our investors. This portfolio offers significant value-add potential and mark-to-market opportunity amid growing demand for housing outside of large urban cities," said Richard Litton, President, HGI. "We are pleased to have an experienced partner in Cammeby's as we embark on this venture, given their strong presence in the region."
The portfolio spans 14 cities in North, Central and South New Jersey, with a concentration in Union, Morris and Essex. A majority of the portfolio is located in key suburban markets near major New Jersey employers, including Prudential Financial, Johnson & Johnson, Bayer Corp. and Quest Diagnostics. The portfolio assets are also proximate to other key markets and employment hubs, including New York City and Philadelphia.
Harbor Group Management Company, HGI's property management arm, will assume the management of 10 assets within the portfolio.
Eastdil Secured brokered the transaction and advised on the debt alongside Meridian Capital Group. Lawrence H. Bryant at Williams Mullen served as counsel to HGI and Steven Fleissig at Greenberg Traurig served as counsel to the seller.
"On behalf of Meridian, it was again an honor and privilege to represent Harbor Group International and Cammeby's International Group in negotiating financing for this monumental acquisition. Working in direct coordination with Capital One and Freddie Mac allowed us to secure a combination of fixed- and floating-rate financing that provided optimal flexibility in the short-term while allowing them to achieve their long-term goals for the assets," said Abe Hirsch, Senior Managing Director at Meridian Capital Group.
About Harbor Group International
Harbor Group International, LLC, and its affiliates control an investment portfolio of $14.5 billion including 4.4 million square feet of commercial space throughout the United States and the United Kingdom and 53,000 apartment units in the United States. In addition to its corporate headquarters in Norfolk, Virginia, HGI maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv.