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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PORTLAND, OR – Pathfinder Partners, a San Diego-based private equity firm specializing in multifamily real estate investments, announced the acquisition of FortyOne 11 Apartments in Portland, Oregon for $27.4 million. The investment was made from Pathfinder Partners Opportunity Fund VIII, L.P. ( Fund VIII ), raised in 2020 to make opportunistic multifamily investments.
FortyOne 11 is a 112-unit property located in an eclectic and vibrant suburb of northeast Portland. Pathfinder will focus on stabilizing the property s operations while improving the resident experience and tenant retention. FortyOne 11 is 76% occupied, presenting an immediate opportunity to substantially increase cash flow through improved occupancy and rent collections and through better utility reimbursement and expense management.
FortyOne 11 epitomizes our strategy for Fund VIII – a well-located, multifamily project which has struggled operationally during the pandemic, said Mitch Siegler, Co-Founder and Managing Director of Pathfinder Partners. With the availability of low-cost debt and shifting demographics, multifamily remains a highly resilient asset class.
In addition to Portland, Pathfinder Fund VIII invests in Seattle, Sacramento, Southern California, Phoenix and Denver.
With rising costs pushing millions of potential buyers to remain renters, there is a housing supply/demand imbalance in the U.S., with more renters than rental units available, said Lorne Polger, Co-Founder and Managing Director of Pathfinder. Multifamily properties such as FortyOne 11 have a track record of providing higher risk-adjusted returns compared to virtually all other property types and support the strategy of accredited investors looking to include real estate in their portfolios.

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GERMANTOWN, TN – DLP Real Estate Capital, a private financial services and real estate investment firm, announced its acquisition of Vantage at Germantown, a multifamily three-tale garden-style property, located in Germantown, TN. This 288-unit property consists of one-, two-, and three-bedroom units with an average 837 sq. footage.
Don Wenner, Founder and CEO of DLP Real Estate Capital commented, “We are very pleased to add this property to our portfolio of multifamily investments. This gorgeous apartment community will provide a convenient and affordable rental housing option for many families to live and work within a ten-mile radius of a high-technology corridor. Acquiring this apartment community reflects our mission of continuing to make a significant impact in today’s housing crisis.”
Vantage at Germantown was built in 2020 and is conveniently located only 15 minutes from downtown Memphis and within 10 miles of five of the city’s largest FedEx facilities. The property offers convenient access to thousands of jobs within the high-tech corridor and other thriving sectors of business. The property sits on over 22 acres and includes a resort-style swimming pool with outdoor cabana and fireplace, media lounge with internet cafe, clubhouse, 24-hour fitness studio, remote access gates, and a large/small breed ‘bark park.’ The units have energy-efficient appliances with full-size washer and dryer, tiled backsplash, spacious closets, and personal balconies.

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