Harbor Group International acquires 244-unit Courtney at Lake Shadow

Berkadia has secured a $32 million loan on behalf of borrower Harbor Group International (HGI) for the acquisition of Courtney at Lake Shadow, a newly built, Class “AA” garden- and carriage-home apartment community with 244 units located in Orlando, Florida. HGI, a global real estate investment firm, acquired the property at 545 S. Keller Road.

Berkadia South Florida Senior Managing Director Charles Foschini and Managing Director Christopher Apone arranged the Freddie Mac, seven-year, floating-rate loan at an aggressive interest rate, with three years interest only.

“This was about a smooth and seamless transaction as one could have” said Foschini. “As a select sponsor with Freddie Mac, Harbor Group had a variety of options from this lender and others, each of whom recognized their acumen as an operator and Courtney’s proximity to a major office park. In the end, Freddie Mac’s certainty of execution, combined with exceptional business terms, made them the clear choice for a time sensitive acquisition.”

Built in 2016, Courtney at Lake Shadow is a newly developed, lakefront community ideally situated in the Maitland Center Office Park. It offers an excellent lakefront location nestled between Central Florida’s three most desirable neighborhoods: Maitland, Winter Park and College Park. Located just off the new I-4/Maitland Boulevard interchange, Courtney at Lake Shadow is ideally situated close to major employment centers, colleges, dining and entertainment, and expansive parks, lakes and abundant green space. Nearby employers include ADP and Adventist Health System, both rapidly expanding their operations, and it is located just southeast of Seminole State College.

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.