BALTIMORE, MD (February 22, 2017) -- Harbor Group International, LLC (“HGI”) announced today that affiliates of the company have sold a six-property portfolio in Baltimore, Maryland for $247 million. HGI affiliates acquired the portfolio in July of 2011 for $190 million and invested an additional $7.75 million into various exterior and interior renovations.
The Portfolio consists of the following properties:
• Crosswinds at Rolling Road, 808 units
• Diamond Ridge, 92 units
• The Glens at Rolling Road, 270 units
• Granite Run, 264 units
• Rolling Wind, a 280 units
• Stratton Meadows, 270 units
“We are pleased with the performance of the entire portfolio and the success of our portfolio-wide investment strategy which capitalized on a healthy submarket and economies of scale,” said T. Richard Litton, Jr., President of Harbor Group International, “This transaction shows HGI’s versatility when it comes to acquiring or selling apartment property portfolios.”
Harbor Group International Sells 6-Property Baltimore Apartment Portfolio
About HGI
Harbor Group International (HGI) is a leading global real estate investment and management firm. With $19 billion1 in real estate investment properties, the firm invests in and manages diversified property portfolios including office, retail, and multifamily properties. With over 39 years of experience in the industry and approximately 1,400 employees worldwide, HGI continues to look for real estate investment opportunities.
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Harbor Group International controls $19 billion1 in real estate investments and is constantly exploring real estate investment opportunities in the worldwide market.
Harbor Group International, LLC provides real estate management and real estate investment services and is not affiliated with Harbour Group Industries, Inc. (whose web site may be found at www.HarbourGroup.com), which offers investment services in connection with the acquisition, development and operation of industrial and manufacturing companies.
1Total capitalized value of underlying assets of $19 billion includes direct real estate and private funds as of 12/31/2023. AUM represents the total capitalized value of underlying assets, which includes direct and indirect real estate and real estate related investments, and the AUM of HGI’s affiliate, HGI Capital Management, LLC.