Harbor Group International recently sold two portfolios consisting of five properties and a total of 1,234 units for $159.7 million. LRE Management LLC acquired three apartment complexes while Greybrook purchased the remaining two.
The seller was represented by CBRE’s Shea Campbell, Ashish Cholia, Kevin Geiger, Keith Geiger, Colleen Hendrix, Don Hoffman Malcolm McComb and Kurt McGarry in both transactions.
According to Geiger,”There is a predicted shortage of housing in the next five years within the multi-housing industry. The new owners can expect significant appreciation in value from these properties.”
LRE Management made the largest purchase with three properties totaling 778 units for $102.5 million: Peachtree Landing located in Fairburn (pictured), Eastwood Village situated in Stockbridge and Monterey Village found Jonesboro.
Greybrook’s transaction involved purchasing Meadow Springs and Meadow View located College Park for $57.2 million combined with a total of 456 apartment units between them.
This sale was reported by Connect CRE .
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