(To read more on the multifamily market, click here.)

BALTIMORE-A $20.2 million refinancing package for Pierside at Harborview has closed. The condominium property sits on the waterfront and features 164 units, 102 of which are still on the market and served to secure the loan for borrower Harborview Properties Development Co.

The financing was facilitated by Corus Bankshares Inc.'s Corus Bank. "The borrower recently converted the building," says Corus first vice president Dwight Frankfather. The property was developed in 2002 as a rental apartment building for about $20.2 million.

Pierside at Harborview is within walking distance of the city's Inner Harbor and Camden Yards. The five-story building offers an outdoor pool, clubroom, conference facilities, fitness center, and a four-level underground parking facility.