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Harbor Group Crosses Time Zones to Collect $180M SoCa Multifam Portfolio
Affiliates of Norfolk, VA-based Harbor Group International, LLC, have acquired a three-property portfolio of multifamily communities in Long Beach, CA for $180M. The Long Beach Coastal Collection portfolio is HGI’s eighth multifamily investment in Southern CA.
Geoff Boler of Eastdil Secured facilitated the transaction.
The portfolio’s three mid-rise properties are walkable to the beach and downtown Long Beach’s dining, retail and employment offerings. The portfolio is anchored by the Port of Los Angeles and the Port of Long Beach, which support more than 300,000 jobs in the Long Beach area.
The properties, built in 2019 and 2020, are comprised of 348 studio, one- and two-bedroom units and feature amenities such as a rooftop deck, fitness center, lounge, heated pool and spa, co-working space and gaming room.
Harbor Group International, LLC, and its affiliates control an investment portfolio of $19 billion including 4.9 million square feet of commercial space and 63,000 apartments.
Photo: The Pacific Apartments
- ◦Sale/Acquisition
