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Harbor Group International Acquires Multifamily Portfolio For $1.85B

Property Image
SOLD
$1,850,000,000
William (Bill) Weber
Anthony Orso
+ 2

Arizona

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MultiFamily
Sold
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Property Image
SOLD

Harbor Group International Acquires Multifamily Portfolio For $1.85B

Arizona, USA

See Similar Deals
MultiFamily
Sold
William (Bill) Weber
Anthony Orso
+ 2
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

Harbor Group International, led by Jordan Slone, has acquired a multifamily property portfolio comprising 13,243 units across Arizona, Colorado, Florida, Georgia, Missouri, New Mexico, Texas, and Utah. The seller, Aragon Holdings, represented by Larison Clark, closed the sale. The transaction was facilitated by brokers Jimmy Kuhn, Zach Springer, Anthony Orso, Bill Weber, and Henry Stimler from Newmark Knight Frank.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,850,000,000
  • Units: 13,243
  • Price per Unit: $139,696

Notably, Harbor Group International, a global real estate investment and management firm, made this significant acquisition, expanding its multifamily portfolio across multiple states. Aragon Holdings, the seller, successfully closed the deal under the guidance of Larison Clark. Moreover, the transaction was facilitated by the experienced brokers Jimmy Kuhn, Zach Springer, Anthony Orso, Bill Weber, and Henry Stimler from Newmark Knight Frank.

Players

James (Jimmy) D. Kuh
6 deals$3B volume(212) 372-2200
BROKER

Zach Springer
Newmark
7 deals$1.9B volume
BROKER

Anthony Orso
Newmark
6 deals$3.1B volume
BROKER

William (Bill) Weber
Newmark
48 deals$5.3B volume
BROKER

Jordan Slone
Harbor Group International
20 deals$5.3B volume
BUYER

Details

SOLD
IMAGE: Jimmy Kuhn, Zach Springer, Jordan Slone, Anthony Orso, Larison Clark, Bill Weber & @HenryStimler DATE: 01/15/2020 STATES: Arizona, Colorado, Florida, Georgia, Missouri, New Mexico, Texas & Utah ASSET TYPE: Multifamily BUYER: Harbor Group International - Jordan Slone SELLER: Aragon Holdings - Larison Clark BROKER: @NewmarkKF Jimmy Kuhn, Zach Springer, Anthony Orso, Bill Weber & @HenryStimler PRICE: $1,850,000,000 UNITS: 13,243 ~ PPU: $139,696

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,572,659.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769,943.83
Annual Debt Service$105,239,325.91