NORFOLK, VA. — Affiliates of Harbor Group International, in partnership with The Garrett Cos. and Telis Group, have received a $351 million loan for the refinancing of an eight-property multifamily portfolio across four states. ACRE, a vertically integrated real estate fund manager, provided the financing.
Totaling 1,573 units, the portfolio is located in Arizona, Colorado, Indiana and Minnesota, with properties in the Denver, Colorado Springs, Phoenix, Indianapolis and Minneapolis metropolitan areas. The communities included in the portfolio were developed between 2024 and 2026 and are part of a larger, 11-property portfolio that was refinanced by the borrowers in January 2025.
Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Rimer, Michael Ianno, Nicholas Gillhooley, Craig West, Kevin Walsh and Holden Barry of Walker & Dunlop Capital Markets secured the loan on behalf of the borrowers.
“This refinancing represents another important milestone for the portfolio and highlights the collaborative approach among all parties involved,” says Eric Garrett, CEO of The Garrett Cos. “We continue to see strong operating performance across the assets and remain confident in the long-term fundamentals supporting these markets.”
Headquartered in Norfolk, Va., Harbor Group International is a privately owned global real estate investment and management firm focused on the multifamily and office sectors. In March, Harbor Group acquired 11 properties from AH Realty Trust for $562 million.
The Garrett Cos.’ multifamily platform spans development, construction and property management. Telis Group, founded in 2023, is a real estate fund manager with a portfolio totaling $1.8 billion.
— Hayden Spiess