DALLAS, TX – Lincoln Property Company, the second largest property management company in the United States, announced that it will buy the multifamily property management business of The Excelsior Group, Excelsior Multifamily LLC. The Excelsior Group is a Minneapolis-based real estate services company. Its Excelsior Multifamily LLC company manages a portfolio of 27 multifamily properties encompassing nearly 4,500 units in the Minneapolis/St. Paul metropolitan area. Terms of the sale were not told.
Excelsior Multifamily will expand Lincoln s Midwest region, which currently includes offices in Chicago and Kansas City and, with the acquisition, an expanded presence in the Minneapolis/St. Paul metropolitan area. The addition of Excelsior s multifamily portfolio will more than quadruple Lincoln s presence in the Minneapolis/St. Paul market. Nearly all Excelsior Multifamily employees, including the business s core leadership team, will join the local Lincoln team.
We are thrilled to welcome the Excelsior Multifamily team and its portfolio of properties to Lincoln, said Bruce Webster, Senior Vice President, Midwest Region, for Lincoln Property Company. Excelsior s management team will be joining Lincoln to ensure continuity of operations for both residents and owners. Meanwhile, Lincoln s leading management platform will enable the combined business to provide enhanced offerings and services and lower costs to property owners.
As we explored options for growing our multifamily property management business, it became clear that joining the Lincoln platform would be the best outcome for both our people and our clients, said Chris Culp, The Excelsior Group s Founder and Chief Executive Officer. Our clients will continue to delight in brilliant service from people they know and trust while gaining access to the breadth and depth of the resources Lincoln s national size and scale brings. Our people will thrive in a Lincoln corporate culture that is as entrepreneurial as ours but that also affords the career growth and professional development opportunities of an international real estate firm.

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FORT COLLINS, CO – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought The Wyatt, a 368-unit apartment community in Fort Collins, Colorado.
The buy marks the firm’s second acquisition in the Fort Collins market and 15th in Colorado. The community, newly built in 2019, is in immediate proximity to Interstate 25, providing access to Downtown Fort Collins, Downtown Denver, and major regional employers.
“The Wyatt offered an exciting opportunity to buy a brand-new asset in Fort Collins,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “The property features an extensive amenity package, a prime location near regional employers, and offers residents the quality of life provided by the city’s close proximity to outdoor recreation. We are excited about our continued growth in the Fort Collins market.”
The Wyatt was 89.1% occupied at buy. The community is located at 4701 Strauss Cabin Road in the desirable Fort Collins South submarket, approximately 15 minutes from Downtown Fort Collins. The 368 units range from 761-1,413 square feet and community amenities include a clubhouse, resort-style swimming pool, fitness center, and a spa, steam room, and cabanas.
Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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BOCA RATON, FL – Harbor Group International, a privately-owned international real estate investment and management firm, announced the acquisition of The Heritage, a 248-unit, Class A multifamily community in Boca Raton, Fla., for $81 million. Newmark Knight Frank’s Hampton Beebe and Avery Klann coordinated the sale. Meridian Capital’s Abe Hirsh and Zev Karpel along with Newmark Knight Frank’s Henry Stimler and Bill Weber coordinated the financing for the deal.
The Heritage consists of four mid-rise residential buildings located one mile west of Atlantic Ocean beaches. The property is near convenient transportation options, including Palmetto Park Road and I-95, providing access to the employment centers of West Palm Beach, Fort Lauderdale and Miami. The Heritage is also proximate to several shopping, recreation and entertainment options in the immediate area including Mizner Park and Town Center at Boca Raton Mall.
Additionally, The Heritage offers an expansive amenity set, including a resort-style pool and jacuzzi, outdoor kitchen, 24-hour fitness center, dry sauna, movie theater and private detached garages. HGI will continue implementing the property’s value-add program instituted by the seller, which included upgrading a part of the units with new appliances and fixtures.
“The South Florida market has performed exceptionally well amid the current economic environment,” said Richard Litton, President, HGI. “As a well-located luxury property, with a desirable amenity set, we believe The Heritage will be an in-demand asset as the area attracts more renters.”
The buy of The Heritage adds to HGI’s significant footprint of over 4,000 units in Florida. The firm also owns multifamily communities in Orlando, Fort Lauderdale and Doral, among other high-growth markets.

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