Harbor Group International has sold Coach House, an 807-unit garden-style multifamily property in Kansas City, Mo., for $81 million.
The new owner was not disclosed.
“HGI acquired the Sunbelt Portfolio to continue its successful strategy of buying wholesale and selling retail as individual assets achieve their business plans,” said T. Richard Litton Jr., president of HGI. “During our due diligence process on the Sunbelt Portfolio, Coach House was identified for a sale early in our holding period. The pricing on the sale exceeded our initial projections, and we are very pleased with the transaction.”
The property was acquired by an affiliate of HGI in January of 2020 as part of the Sunbelt Portfolio, a $1.85 billion transaction that included 13,243 apartment units in top-tier markets across the United States.
HGI plans to continue executing individual investment plans for each property in the Sunbelt Portfolio, tracking market conditions, and selli
