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Dealmaker: Harborview Capital Partners Closes $68M in Louisiana, Texas, Colorado, Arkansas and Oklahoma
Harborview Capital Partners, Lawrence, N.Y., arranged $67.7 million for multifamily assets in five states.
Harborview Senior Originator Avi Begun negotiated a $23.7 million construction loan for a 252-unit Lake Charles, La. multifamily asset. The new LIBOR-based loan included 36 months of interest-only payments followed by a 30-year amortization schedule.
Begun also closed two loans totaling $25 million for Conroe, Texas multifamily properties. Both non-recourse loans were refinanced through HUD’s 223(a)(7) program, with interest rates fixed for 35 and 40 years, respectively. Begun said Harborview was able to early rate lock on day one.
In Lakewood, Colo., the firm arranged a $19 million multifamily refinance transaction. Harborview Principals Ephraim Kutner and Jonathan Kutner originated the loan, which Director of Capital Markets David Nussbaum negotiated. The 10-year non-recourse loan floats based on the LIBOR with full interest-only payments.
Harborview also arranged two loans totaling $6 million for multifamily assets in Little Rock, Ark. and Oklahoma City. The two acquisition loans represented the third and fourth deals Senior Originator Jeff Fuchs closed for the California-based client this year.
The first loan, a $3.1 million conventional bridge loan for an 80-unit property in Little Rock, priced at LIBOR plus 3.00 percent with 18 months of interest-only payments. The second transaction, a 10-year $2.5 million Freddie Mac small balance loan, allowed the borrower to acquire a 68-unit property in Oklahoma City.