ATLANTA, GA – Harbor Group International (HGI), a privately-owned international real estate investment and management firm, announced its sale of the Preserve at Mill Creek, a 400-unit multifamily property located in suburban Atlanta, for $75 million, a 34% increase from the $55.95 million buy price HGI paid in 2016.
This sale follows a $3.875 million investment by HGI to increase the property’s overall curb appeal as well as renovate many of the interior units, increasing the property value by $19.05 million compared to the initial buy price.
“The sale of the Preserve at Mill Creek reveals Harbor Group International’s strategic method of developing business plans specific to a property and achieving high returns on our investment goals,” said Richard Litton, President of Harbor Group International. “We see significant value in investing in value-add multifamily properties and will continue to focus on deals that live up to the standards of our clients.”
HGI continues to actively pursue multifamily portfolio transactions with value-add potential, recently demonstrated through its $50.5 million buy of and plotted improvements to The Cedars at Elm Hill, a garden-style apartment project in Nashville, TN.

Powered by WPeMatico

HOUSTON, TX – Keener Investments announced that it has bought a 378-unit multifamily property in Spring, TX. The property will be managed by Keener Management.
We have been targeting acquisitions in North Houston due to its strong employment base, exceptional industry growth, and significant infrastructure expansion, said Stephen A. Smith, Chief Executive Officer of Keener Investments. We continue to seek acquisitions that allow us to leverage our management and renovation teams and this property is consistent with our value-add strategy. This acquisition adds scale to our ongoing efforts to expand our portfolio within this area of Houston.
The Mira Bella and San Martin apartments are garden style multifamily properties that were built in 1983 and 1980, respectively. The properties are located in a rapidly growing area of North Houston that is experiencing an employment rate of 94% within a 3-mile radius of the property. These communities offer convenient access to shopping and entertainment as well as access to major thoroughfares to employers like ExxonMobil, Houston Northwest Medical, Bush Intercontinental Airport (IAH), Springwoods Village and North Houston District.
Keener Investments has now completed approximately $230 million in transactions since 2016 and is continuing to actively buy multifamily communities in Texas.

Powered by WPeMatico

ST LOUIS, MO – GMH Capital Partners and AGC Equity Partners announced the acquisition of Everly on the Loop, a 428-bed student housing community in St. Louis, Missouri. Located at 6105 Delmar Boulevard, Everly on the Loop is the only privately-owned, purpose-built student housing property serving Washington University in St. Louis (WashU).
Everly on the Loop is the first of its kind in the WashU market, said James W. Kirby Jr., Executive Vice President of Acquisitions at GMH Capital Partners. The opportunity to own an asset serving a prestigious university and its students is one we are excited for here at GMH. We look forward to being a part of the WashU community for years to come.”
Built in 2017, the 192,390-square-foot off-campus student housing community consists of 14 tales and 209 units. Students delight in upscale, spacious studios and one-, two-, and three-bedroom units that average 899 square feet and feature private bathrooms, hardwood-style floors, stainless steel appliances, and modern finishes throughout. Everly on the Loop offers a fully-equipped fitness center, yoga room, game room, pool, and both indoor and outdoor entertainment spaces. The property also features a resident dedicated shuttle to and from the Danforth Campus that runs during the fall and spring semesters.
Everly on the Loop is ideally situated in the Delmar Loop neighborhood, on the edge of WashU s North Campus and just a half-mile from the university s Danforth Campus. The Delmar Loop is home to many restaurants, bars, and entertainment options including Mission Taco Joint, Tavolo V Italian Restaurant, Prime 55 Restaurant & Lounge, Three Kings Public House, Blueberry Hill, W Karaoke Lounge, Delmar Hall, and many more.

Powered by WPeMatico