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**Harbor Group, CBRE IM Close on Boston-Area Multifamily Portfolio**
Affiliates of Harbor Group International, LLC (HGI) and CBRE Investment Management have completed the acquisition of four properties as part of a $740 million multifamily portfolio deal. The transaction includes five properties and a total of 2,719 residential units across New England. According to both firms, the investment reflects the continued strength of the region’s rental housing market and reinforces their established presence in Greater Boston.
“The New England region continues to demonstrate some of the strongest multifamily fundamentals in the country,” said Yisroel Berg, Chief Investment Officer of multifamily at HGI. “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.”
Matt Tepper, Head of Americas, Indirect Real Estate Strategies at CBRE Investment Management, added, “This acquisition exemplifies our strategy of investing in attainable and high-quality multifamily assets in markets supported by strong demand drivers.”
As previously reported, the seller in the transaction was Denver-based Apartment Investment and Management Company.
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