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HGI News

MIAMI, FL (April 26, 2017) -- Harbor Group International, LLC (“HGI”) announced today that an affiliate of the company has acquired a 700-unit apartment community in suburban Miami, Florida formerly known as Montage at City Center for $158.5 million.

HGI renamed the property City Center on 7th and will invest an additional $2.65 million in interior maintenance and upgrades.

“This class-A property is located in the strong Pembroke Pines submarket with healthy demographics and increasingly strong job drivers,” said T. Richard Litton, Jr., President of Harbor Group International, “The acquisition is consistent with HGI’s recent strategy of buying Class A, new product in major urban markets, where we continue to believe that the combination of relatively attractive per unit pricing and strong rental demand drivers are combining to create good investment opportunities”

The property, built in two phases in 2014 and 2015, has a strong amenity package including a LEED Certified Gold clubhouse, resort style beach entry pool, fitness center, business center, demonstration kitchen, game room, private garages, storage units, and 24-hour emergency maintenance.

Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued in excess of $4.7 billion. HGI is headquartered in Norfolk, Virginia with offices in New York and Tel Aviv. The company’s real estate holdings include approximately 4.7 million square feet of commercial properties and in excess of 22,000 apartment units. For additional information, please visit www.harborgroupint.com.

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Harbor Group International, LLC provides real estate management and real estate investment opportunities and services and is not affiliated with Harbour Group Industries, Inc. (whose website may be found at www.harbourgroup.com), which offers investment services in connection with the acquisition of, development and operation of industrial and manufacturing companies.