Updated Dec 4, 2024
Harbor Group International Acquires $390M Multifamily Portfolio From Chetrit Group In FL, IN, KY, OH, And PA
Florida City, FL, USA
$390,000,000
$70,909/SF
Building Size
5,500 SF
Asset Type
MultiFamily
Closing
Apr 28, 2021
About this deal
AI
Harbor Group International, led by Jordan Slone and Richard Litton, along with Image Capital, represented by Asher Koenig, have acquired a multifamily property in Florida, Indiana, Kentucky, Ohio, and Pennsylvania. The property was sold by the Chetrit Group, with Joseph Chetrit as the seller. The deal was facilitated by brokers Henry Bodek from Galaxy Capital and Meridian Capital Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $390,000,000
- Units: 5,500
- Price per Unit (PPU): $70,909
The acquisition involved a significant investment by Harbor Group International and Image Capital. Jordan Slone and Richard Litton from Harbor Group International, along with Asher Koenig from Image Capital, led the buying efforts. On the selling side, Joseph Chetrit represented the Chetrit Group. Henry Bodek from Galaxy Capital and Meridian Capital Group served as the brokers in this transaction.
Players
Homestead MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93