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Jordan E. Slone Of Harbor Group International Acquires Multifamily Portfolio In Boston For $740M
SOLD
$740,000,000
Massachusetts
See Similar DealsMultiFamily
Sold 08/06/2025
SOLD
Jordan E. Slone Of Harbor Group International Acquires Multifamily Portfolio In Boston For $740M
100 Arbor Drive
See Similar DealsMultiFamily
Sold 08/06/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in this transaction is a multifamily portfolio comprising five properties located in the Boston, MA market. The portfolio consists of a total of 2,719 units, currently achieving an occupancy rate of 95.7%. The transaction is valued at $740,000,000, under contract for acquisition by Harbor Group International.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $740,000,000
- Buyer: Jordan E. Slone - Harbor Group International
- Seller: Wes Powell - Apartment Investment & Management Company (AIMCO)
- Market: Boston, MA
Jordan E. Slone represents Harbor Group International in this acquisition, while Wes Powell represents Apartment Investment & Management Company in the sale. Harbor Group International plans to implement targeted renovations across the portfolio following the acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$39,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,629,063.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,507,977.53
Annual Debt Service$42,095,730.36
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