2,719 units to be purchased across Greater Boston

NORFOLK, Va., Aug. 6, 2025 /PRNewswire/ -- Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, announced today that an affiliate of HGI is under contract for the $740 million acquisition of a portfolio of five multifamily communities from the publicly traded REIT Apartment Investment and Management Company ("Aimco"). The assets are located throughout New England. The company will implement a value-add program across the properties through targeted renovations and an active asset management strategy.

Concentrated around the greater Boston metro area—including Massachusetts, New Hampshire and Rhode Island—the properties within the portfolio are strategically located in fundamentally strong suburban submarkets supporting long-term occupancy.

"The addition of these communities will deepen HGI's presence within the Boston area, a market exhibiting robust multifamily fundamentals where we already have a strong operating footprint," said Yisroel Berg, Chief Investment Officer of Multifamily at HGI. "With limited new supply in the surrounding areas of each property, we will be well-positioned to leverage our local market knowledge to maintain stable occupancy levels and implement targeted renovations that enhance the resident experience."

Built between 1970 and 1974, the unit interiors feature stainless steel appliances and hardwood flooring. Amenities across the properties include swimming pools, fitness centers, clubhouses, and community green spaces. As of July 2025, the portfolio was 95.7% occupied. Historical occupancy has averaged 97% since 2022, reflecting durable resident demand.

Affiliates of HGI currently own 978 units across four Boston-area assets, historically having owned and sold more than 3,100 units across nine properties in Massachusetts. This announcement further reinforces HGI's proven track record as a seasoned portfolio buyer. Following this acquisition, HGI will have executed approximately $2.2 billion of multifamily acquisitions year to date in 2025.

About Harbor Group International

Harbor Group International, LLC, and its affiliates control an investment portfolio of approximately $21 billion, including 62,000 apartment units in the United States and 5.0 million square feet of commercial space throughout the United States and the United Kingdom. In addition to its corporate headquarters in Norfolk, Virginia, Harbor Group International maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv. Follow Harbor Group International on LinkedIn.

Media Contact:
Prosek Partners for HGI
Pro-hgi@prosek.com 

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SOURCE Harbor Group International, LLC