Harbor Group International Expands Presence in Miami with Multi-Family Acquisition

The transaction marks HGI’s eighth acquisition in Miami Dade County

MIAMI, December 29, 2022 /PRNewswire/ — Subsidiaries of Harbor Group International, LLC (“HGI”), a privately-held international real estate investment and management firm, today announced the acquisition of Oak Enclave Miami, a mid-rise multifamily newly developed average of 420 community units in Miami Gardens, Florida. The community contributes to the growth of HGI Miami portfolio, marking the eighth property held by HGI in Miami Dade County, comprising nearly 2,000 units. HGI will assume the on-site loan for the property.

Completed in June 2022HGI will work to complete the lease and stabilize community operations once it assumes ownership and management.

“Thanks to our deep knowledge of the Miami multifamily market, we were able to coordinate with the seller to acquire this asset on an attractive basis and close quickly,” said Richard Litton, Chairman, HGI. “As MSA Miami continues to experience heavy immigration, both externally and internally Floridawe see opportunities in sub-markets such as Miami Gardens as residents seek well-located housing at an affordable price. »

HGI continued to be an active investor in commercial and multifamily real estate amid continued market volatility. During the second half of 2022, the company acquired 10 multifamily properties across the United States, totaling over 4,000 units, including Oak Enclave Miami. In 2022, HGI achieved a total of $6.7 billion in transactions, covering acquisitions and disposals.

Oak Enclave Miami offers residents a commuter-centric location with direct access to area employment centers. The community is near several transportation options including the Palmetto Freeway, Interstate-95, and the Florida Turnpike, providing access to approximately 820,000 jobs within a 25-minute drive. The community is also near the Golden Glades Tri-Rail station, connecting residents to the Miami Health District, Miami international airport, Adventure, Hollywood and Fort Lauderdalewith planned expansion downtown Miami.

Oak Enclave Miami amenities include a 24-hour fitness center, multi-purpose clubhouse, playground, swimming pool, and 24-hour guarded access. The community spans 14 acres. , with over a third of the property designated as outdoor space. Units feature private balconies or patios, 10-foot ceilings, stainless steel appliances, and modern finishes.

Robert Given and Troy Ballard of Cushman & Wakefield negotiated the sale.

About Harbor Group International
Harbor Group International, LLC and its affiliates control an investment portfolio of approximately $20 billionincluding 59,000 apartments in United States and 5.0 million square feet of retail space throughout United States and the UK. In addition to its head office in Norfolk, VirginiaHGI has offices in New York, Baltimore, Angelsand Tel Aviv.

Media Contact:
Kailyn Myshrall
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SOURCE Harbor Group International, LLC