Throughout the pandemic, workforce housing, as it does in most recessions, has held up well.
For affiliates of Harbor Group International (HGI), a privately owned international real estate investment and management firm, that sort of resilience was undoubtedly a driver behind the acquisition of a 56-asset multifamily portfolio. Image Capital partnered with HGI on the $390 million deal. Henry Bodek of Galaxy Capital was the broker for the transaction.
The 5,490-unit portfolio consists of single-story workforce housing properties across five states in the eastern United States. Approximately 70% of the properties are located in Florida and Ohio, where HGI already has a large footprint. Other properties are located in Indiana, Kentucky and Pennsylvania.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
