Norfolk, Va.-based Harbor Group International completed a $59 million refinancing of its Dominion Tower headquarters with lender Canadian Imperial Bank of Commerce on April 21, Commercial Observer has learned.
The financing replaces HGI’s previous mortgage from Bank of America, which was set to mature on May 1. The loan is now refinanced out of the BACM 2006-2 commercial mortgage-backed security and the change will be reflected in the May remittance report, a source with intimate knowledge of the deal told CO. Given the size of the loan, it is likely that it will be contributed into a new CMBS deal, the source said, although no further details can be gleaned at this time.