Harbor Custom Development said it has closed on a $19,950,000 loan with lender Sound Capital to refinance the first phase of its 126-unit Belfair View apartment multi-family project located in Belfair, Washington.
“We are pleased to announce the continuation of our lending relationship with Sound Capital,” Harbor Custom Development chief operating officer Jeff Habersetzer said in a statement.
“Over the past five years, they have been a trusted partner for our company, providing financing for numerous communities in Western Washington, as well as projects in our Sacramento and Austin metro markets.”
Sounds Capital principal Johnny Walker commented: “We appreciate the consistent lending opportunities Harbor has offered us over the years. Our company has financed single-family subdivisions, townhome developments, and multi-family construction loans for the company.”
The Belfair View apartments are located at 81 NE Ridge Point Boulevard, Belfair, Washington, 98528. Units range in size from 724 to 986 square feet with rent rates ranging from $1,695 to $2,095 per month.
Harbor Custom Development is a real estate development company involved in all aspects of the land development cycle, including land acquisition, entitlements, construction of project infrastructure, home and apartment building, marketing, and sales of various residential projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie