Harbor Group International has secured a new $124.6 million loan to refinance Alesio Urban Center, a large mixed-use community in the Las Colinas submarket of Irving, Texas. Berkadia arranged the refinancing on behalf of the firm, which acquired the property in 2021.
The community totals 908 apartment homes and incorporates 55,499 square feet of retail and commercial space. The mixed-use property is located at 385 E. Las Colinas Boulevard, along Lake Carolyn in the heart of the Las Colinas Urban Center, a master-planned district within Irving.
Berkadia's Miami office sourced the financing, with a team of Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez leading the assignment. The loan proceeds will be used to retire the existing mortgage on Alesio Urban Center and to pay related closing costs.
Blackstone provided the new loan, giving Harbor Group International an updated capital structure on the asset roughly five years after the investor's 2021 acquisition. The transaction underscores continued lender interest in large-scale, mixed-use communities that integrate residential and retail components within established submarkets.
Alesio Urban Center was developed in two phases between 1987 and 1995 and spans 17.29 acres. The property is composed of 14 residential buildings ranging from three to six stories, along with a structured parking garage that serves residents and visitors. At street level and within dedicated commercial areas, the asset includes 23 retail and commercial spaces totaling 55,499 square feet.
The property's position along Lake Carolyn, within the Las Colinas Urban Center, places it in a highly planned environment that combines housing, commercial space and access to surrounding business and lifestyle amenities. The scale of Alesio Urban Center, with nearly 1,000 apartment units integrated with retail and commercial uses, makes it a notable mixed-use holding within the submarket.
By refinancing the existing mortgage, Harbor Group International has effectively reset the debt on Alesio Urban Center while maintaining control of a large mixed-use community in Irving. The new financing, arranged by Berkadia and provided by Blackstone, aligns long-term ownership of the asset with an updated loan structure tailored to the property's current status and scale.
