When the COVID-19 pandemic brought the commercial real estate lending markets to a brief standstill in the spring of 2020, Harbor Group International (HGI) saw an opening to scale its business into senior lending.
The Norfolk, Va.-based owner and operator that summer launched a lending platform that provides senior mortgage bridge loans on multifamily properties throughout the U.S. HGI then completed a $245 million equity raise for the whole loan platform in January 2021, and then closed its first CRE collateralized loan obligation (CLO) that May.