NORFOLK, VA - Harbor Group International, a privately-owned international real estate investment and management firm, announced the acquisition of a portfolio of eight multifamily communities in the U.S. Southeast for $309 million.
Seven properties are in North Carolina markets, including Charlotte, Raleigh, Winston-Salem, Greensboro, Durham, and one property is in Hampton, Va.
The portfolio was sold by Newmark's Dean Smith and John Heimburger and financing was arranged by Newmark Capital Markets Team Henry Stimler, Bill Weber and Matt Mense.
The acquisition marks HGI's return to the North Carolina market and expands the firm's footprint in Virginia. The portfolio totals more than 2,300 units and each property is proximate to major employers and office markets as well as entertainment centers.