Jordan Slone and Richard Litton

Harbor Group International thrived over the past year by making big moves with its equity and credit businesses.

The Norfolk, Va.-based investment firm led by Jordan Slone and Richard Litton was the nation’s No. 1 buyer of multifamily properties in 2025 with $2.5 billion in deals. On the credit side, HGI carefully monitored market conditions and sold more than $1 billion of legacy positions.

“Spreads really tightened and, while that made it a little harder for us to deploy credit investments at returns and metrics we liked, a lot of our legacy positions really increased in value,” Litton said. “It was a great year to buy on the direct equity side, and a great year to sell on the credit side.”

On the acquisition front, HGI purchased a portfolio of 11 multifamily assets in the Southeast and mid-Atlantic regions from AH Realty for $562 million in a deal that closed in early 2026. In June 2025, HGI acquired another 11-asset multifamily portfolio in the Southeast for $625 million with 95 percent of the apartment units occupied.

HGI’s past year-plus was also highlighted by a $740 million acquisition in August of five multifamily communities in Massachusetts, New Hampshire and Rhode Island. Those had a 95.7 percent occupancy rate.

Slone, who founded HGI in 1985, said having a seasoned senior leadership team together for so long — including Litton’s 22 years — has been a key catalyst for the company seizing on market opportunities long before the competition. HGI sold off a number of properties with floating-rate debt in early 2022, just before interest rates began to spike, and the company was ahead of the curve on Manhattan’s office market rebound when it teamed with AmTrust Realty as an equity partner for a late 2024 acquisition of 360 Lexington Avenue for $65.5 million.

“We’ve been in business for 41 years, and we’ve been through many, many market cycles,” Slone said. “We have that experience, and I think that really is something that is irreplaceable.”