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Harbor Group International Sells Multifamily Community in Fairfax
Boston-based asset manager GID has acquired The Sussex at Kingstowne, a 556-unit apartment community in Fairfax, for $179 million from Harbor Group International, reported by Washington Business Journal. The property has been rebranded as Windsor at Kingstowne.
The sale closed in April, about five years after Harbor Group International paid $144 million for the property. GID owns approximately 51,000 multifamily units nationwide, which it manages through subsidiary Windsor Communities. Its Greater Washington holdings include The Woodley in D.C., which it bought for $180 million in 2020.
“The Sussex sale is a prime example of HGI’s ability to identify multifamily investment opportunities in markets that are positioned to benefit from strong population growth, employment drivers and high barriers to entry,” said Richard Litton, president of HGI.
