Harbor East properties get $77.9M in permanent financing through Fannie Mae

The CBRE Capital Markets Group has arranged $77.9 million in permanent financing for two Harbor East properties through its Fannie Mae DUS program.

H&S Properties Development Corp. received the financing for Spinnaker Bay, a three-tower, 315-unit apartment complex, and The Promenade at Harbor East, a 13-story, 113-unit building.

The fixed-rate loans of $63.3 million and $14.6 million were structured with 15-year fully amortizing terms with interest rates at about 3.25 percent.

Joe Donato of CBRE's…