Harbor Group International sells multifamily portfolio in Boston
Harbor Group International has sold Boston Portfolio, a 1,722-unit multifamily portfolio comprised of six properties in various supply-constrained suburban submarkets of Boston to an undisclosed buyer.
HGI acquired the property in 2019 for $384 million and instituted a $13.6 million capital improvement program to renovate interior units, upgrade property amenities, address outstanding deferred maintenance items and enhance overall curb appeal. The properties within the portfolio include:Commons at Haynes Farm: Located in Shrewsbury, Mass. Middlesex Crossing: Located in Billerica, Mass. Meadows at Marlborough and Heights at Marlborough: Located approximately 2 miles from one another in Marlborough, Mass. Stone Ends: Located in Stoughton, Mass. Village at Marshfield: Located in Marshfield, Mass.
“The Boston Portfolio sale further exemplifies HGI’s ability to identify strategic opportunities to divest high-quali