Deal Highlight: Harbor Group Sells 1,722 Units

Deal Highlight: Harbor Group Sells 1,722 Units  

redIQ would like to congratulate the team at Harbor Group International for finalizing the sale of a portfolio of six assets made up of 1,722 units. The six assets are in the Boston suburbs near excellent transportation options for accessing downtown Boston. Harbor Group purchased the portfolio for $384 million in 2019 and spent $13 million to improve and renovate the properties.  

Harbor Group was represented by Newmark. The six assets sold are: the Commons at Haynes Farm, Middlesex Crossing, Meadows at Marlborough, Heights at Marlborough, Stone Ends, and Village at Marshfield.  

The population in Greater Boston has increased by 10% since 2010. It is the 11th largest Metropolitan Statistical Area in the USA. Greater Boston is home to many employers, including in the life sciences and financial services industries. Consumer spending by Boston residents was 26% higher in January 2023 than it was in January 2020. The unemployment rate was only 2.7% in June 2023. 

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