HGI and CBRE Investment Management Seal $740 Million Multifamily Portfolio Deal in New England

The sphere of multifamily real estate continues to burgeon with impressive acquisitions, and a significant transaction has just unfolded across New England. Harbor Group International (HGI), alongside CBRE Investment Management, has cemented its foothold in the region's rental housing market through the substantial acquisition of a $740 million multifamily portfolio. This investment includes four out of five properties, encompassing a stout 2,719 units. Notably, these figures sketch out one of the largest multifamily deals to transpire in New England this year, underscoring the robust nature of the region's rental housing market.

Emerging as a formidable partnership within the highly competitive Greater Boston multifamily real estate landscape, both firms leverage their burgeoning presence. Chief Investment Officer of Multifamily at HGI, Yisroel Berg, articulates the positive outlook and strategic approach taken: "The New England region continues to demonstrate some of the strongest multifamily fundamentals in the country. We are excited to partner with CBRE Investment Management and look forward to implementing this value-add strategy on behalf of both our investors and residents, while preserving the stable, high occupancies that made this portfolio so attractive."

The acquisition strategically aligns with the companies' focus on delivering attainable and high-caliber multifamily assets. Matt Tepper, Head of Americas, Indirect Real Estate Strategies at CBRE Investment Management, shares this vision, stating, "Through our partnership with HGI, we are positioned to unlock value through thoughtful asset management while providing desirable housing to residents across Greater Boston."

The ripple effects of this acquisition are far-reaching. HGI now owns and operates over 3,600 units in the Boston territory, and, impressively, the firm has conducted roughly $2.2 billion in multifamily acquisitions in the current year alone, signaling a tireless commitment to expansion and influence within the multifamily segment. This latest collaborative investment between HGI and CBRE Investment Management not only reflects the duo's prowess but also illustrates a strategic commitment to enhancing the quality of living for residents and ensuring returns for investors. It resonates as a testament to the vigorous dynamism and resilient appeal of the New England multifamily market, setting a precedent for future growth trajectories and investment potential in the region.