Harbor Group International Sells Multifamily Community in Washington D.C. Submarket

The sale consists of 556 items

ALEXANDRIA, Va., April 12, 2023 /PRNewswire/ — Harbor Group Worldwide, LLC (“HGI”), a privately owned worldwide actual property funding and administration agency, right now introduced the sale of Sussex at Kingstowne, a 556-unit multifamily neighborhood in Alexandria, Va., a Washington, D.C. suburb.

HGI acquired the property in 2018 for $144 million and instituted a capital enchancment program to extend general curb attraction, renovate inside items, frequent areas and varied out of doors facilities, in addition to improve general property worth.

“The Sussex sale is a chief instance of HGI’s capability to establish multifamily funding alternatives in markets which are positioned to profit from robust inhabitants development, employment drivers and excessive obstacles to entry,” stated Richard Litton, President of HGI. “With this asset, we have been capable of leverage our market information to reposition the neighborhood to draw new residents and obtain constructive outcomes by means of this sale. We proceed to establish strategic alternatives to divest property within the present market setting.”

The Sussex neighborhood is well-positioned close to main highways and transport facilities, offering handy entry to each Washington, D.C. and Northern Virginia employment facilities, together with Fort Belvoir, the most important employment hub in Fairfax County.

The property encompasses a fascinating amenity bundle together with two swimming swimming pools, a 24-hour health middle, cybercafé and resident lounge.

About Harbor Group Worldwide

Harbor Group Worldwide, LLC, and its associates management an funding portfolio of roughly $20 billion, together with 58,000 house items in the US and 5.0 million sq. ft of economic area all through the US and the United Kingdom. Along with its company headquarters in Norfolk, Virginia, HGI maintains places of work in New York, Baltimore, Los Angeles, and Tel Aviv.

Media Contacts:
Kailyn Myshrall 
[email protected]

SOURCE Harbor Group Worldwide, LLC