Harbor Group International Acquires 275-Unit Royal Athena Multifamily Community for $59 5 Million in Greater Philadelphia Market multifamilybiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from multifamilybiz.com Daily Mail and Mail on Sunday newspapers.
NORFOLK, VA - Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of a 56-asset multifamily portfolio for $390 million. The portfolio contains well-maintained, single-story workforce housing properties throughout the eastern United States. Image Capital, LLC, partnered with HGI on the transaction.
The portfolio consists of 5,490 units across five states. Approximately 70% of the properties are located.
BOCA RATON, FL - Harbor Group International, a privately-owned international real estate investment and management firm, announced the acquisition of The Heritage, a 248-unit, Class A multifamily community in Boca Raton, Fla., for $81 million. Newmark Knight Frank s Hampton Beebe and Avery Klann coordinated the sale. Meridian Capital s Abe Hirsh and Zev Karpel along with Newmark Knight Frank s Henry Stimler and Bill Weber coordinated the financing for the deal.
The Heritage consists of four mid-rise residential buildings located one mile west of Atlantic Ocean beaches. The property is near convenient transportation options, including Palmetto Park Road and I-95, providing access to the employment centers of West Palm Beach, Fort Lauderdale and Miami. The Heritage is also proximate to several shopping, recreation and entertainment options in the immediate area including Mizner Park and Town Center at Boca Raton Mall.
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.