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Harbor Group International Acquires West Palm Beach Multifamily Community

Jun 22, 2023•over 2 years ago

Acquiring Company

Harbor Group International

Acquired Company

West Palm Beach Multifamily Community

Norfolk

Description

Affiliates of Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, today announced the acquisition of Locklyn West Palm, a newly developed multifamily community in West Palm Beach, Fla. Comprising 280 units, the community adds to HGI's growing footprint in South Florida, which now totals more than 3,800 apartment homes across 15 properties.

Company Information

Company

Harbor Group International

Location

Norfolk, Virginia, United States

About

Harbor Group International (HGI) is a leading commercial real estate investment manager with a long-standing and established track record of managing risk while achieving returns for investors. Founded in 1985, the firm oversees a diversified real estate investment portfolio across capital structures, asset classes and geographies. HGI’s seasoned investment team seeks to provide attractive, risk-adjusted returns by investing directly in multifamily, office and industrial properties, lending to real estate sponsors through whole loans, mezzanine debt, and preferred equity, and by purchasing real estate securities. The firm conducts its business under the values of Vision, Integrity and Discipline. HGI is headquartered in Norfolk, VA, with offices in New York, Los Angeles, Baltimore and Tel Aviv.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed