Harbor Group International pays $180m for multifamily communities in Long Beach, Calif.
Affiliates of Harbor Group International (HGI) has bought the Long Beach Coastal Collection, a portfolio of multifamily communities in Long Beach, Calif., for $180 million.
The portfolio consists of three mid-rise properties comprising 348 apartments.
Located in the center of Long Beach, the properties are walkable to the beach and downtown Long Beach’s dining, retail and employment. The portfolio is anchored by the Port of Los Angeles and the Port of Long Beach, the busiest ports in the United States, which support more than 300,000 jobs in the Long Beach area. The communities are near several of the area’s major highways and are equidistant to the nearby employment centers of Los Angeles and Orange County.
“The Long Beach Coastal Collection is a strong addition to HGI’s West Coast portfolio given its central location in an established market that is experiencing renter demand for high quality apartment housing,” said Greg Heller, managing director of