Harbor Group International Acquires Multi Family Portfolio In Charlotte, Raleigh, Cary & Durham For $475M

A portfolio of multi-family properties has recently been sold in a closed transaction in Charlotte, Raleigh, Cary, and Durham. The portfolio includes the following properties: 7808 Andover Woods Dr., 6820 Woodbend Dr., 101 Harlon Dr., 20 Ridgewood Dr., 4512 Emerald Forest Dr., 800 White Pine Dr., 5639 Old Chapel Hill Rd., and 2800 Bainbridge Dr. These properties are part of the asset type known as multi-family residences.

Summary of transaction details

• Property Type: Multi Family
• Total Sale Price: $475,000,000
• Total Debt: $360,000,000
• Total Units: 2,346
• Price Per Unit (PPU): $202,472

Jordan Sloan, representing Harbor Group International, acted as the buyer in this transaction. The seller of the portfolio was Dasmen Residential. The brokerage team, consisting of Jason Kon, Henry Stimler, and Bill Weber from Newmark, facilitated the deal.

It's worth noting that this transaction was completed off-market, indicating that the properties were not publicly listed for sale.