Harbor Group International acquires a multi-family portfolio in Long Beach, California.

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LONG BEACH, Calif., July 28, 2022 /PRNewswire/ — Subsidiaries of Harbor Group International, LLC (“HGI”), a privately-held international real estate investment and management firm, today announced the acquisition of Long Beach Coastal Collection, a portfolio of multi-family communities at Long Beach, California.for $180 million. The portfolio consists of three mid-rise properties consisting of 348 apartments in total. Geoff Boler of Eastdil Secured facilitated the transaction.

Located in the center of Long Beachproperties are within easy walking distance of the beach and town center Long Beach catering, retail and job offers. The wallet is anchored by wearing Los Angeles and the port of Long Beachthe busiest ports in the country supporting more than 300,000 jobs in the Long Beach Region. The communities are near several of the region’s major highways and are equidistant from employment centers near Los Angeles and Orange County.

“The Long Beach Coastal Collection is an important addition to HGI’s West Coast portfolio given its central location in an established market that is experiencing tenant demand for high-quality apartments,” said Greg Heller, CEO of HGI. “We see a significant opportunity for operational improvement with this transaction, anticipating strong occupancy rates and steady rental growth across all communities.”

Built in 2019 and 2020, the Long Beach Coastal Collection features a mix of studio, one-, and two-bedroom units located within a three-minute drive of each other. The properties feature state-of-the-art amenities such as a rooftop terrace with panoramic views, 24-hour hotel-grade fitness centers, resident lounges, heated pool and spa, relaxation area, shared work and games and entertainment rooms.

The Long Beach Coastal Collection is HGI’s eighth multi-family investment in Southern California.

About Harbor Group International

Harbor Group International, LLC and its affiliates control an investment portfolio of $19 billion including 4.9 million square feet of retail space across United States and the UK and 63,000 apartments in United States. In addition to its head office in Norfolk, VirginiaHGI has offices in New York, Baltimore, Los Angelesand Tel Aviv.

Media contacts:
Morgan McGinnis
[email protected]

SOURCE Harbor Group International, LLC

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