Harbor Group Sells NoVA Apartment Community for $250M
By Nick Trombola October 28, 2024 7:02 pm
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Harbor Group International’s (HGI) Virginia multifamily properties are flying off the proverbial shelves, and its latest deal is the biggest of the bunch — if not one of the biggest sales of the year so far in the state.
The Norfolk, Va.-based firm earlier this month sold an 806-unit complex in Herndon, dubbed the Dulles Greene apartments, to Bridge Investment Group for just under $250 million, according to Fairfax County property records. It’s currently unclear who brokered the deal for the property, just east across State Route 267 from Dulles International Airport.
HGI acquired the property at 2150 Astoria Circle from Toll Brothers for $193 million. The complex was built between 1998 and 2003.
Representatives for HGI and Bridge Investment Group did not immediately respond to requests for comment.
HGI has been on a tear in Virginia lately, making deals for multifamily properties across the state. Earlier this month, it sold the 258-unit Braddock Lee Apartments in Alexandria to Bonaventure for $49.5 million. In August, HGI sold a 244-unit development in West Springfield to Eagle Rock Properties for $70.5 million.
Yet, HGI isn’t just selling properties; the same month as the West Springfield sale, the firm bought a 352-unit complex in Reston from Brookfield for $133 million.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
