DALLAS–Harbor Group International LLC (“HGI”) has announced that affiliates of the company have acquired a twelve-property, 3,100-unit multifamily portfolio located in Dallas and Houston. The acquisitions represent HGI's largest apartment portfolio transaction in company history.

HGI plans to invest approximately $10 million to upgrade unit interiors, enhance property amenities and improve curb-appeal.

“The acquisition of the Portfolio reflects HGI's strategic decision to expand our investment and operational presence in major Texas markets,” T. Richard Litton Jr., president of HGI, told GlobeSt.com. “Each asset is located in a stable, desirable market where HGI has a successful track record of deploying capital and building value for our investors. In addition, HGI again has demonstrated the ability to complete complicated portfolio transactions involving intricate debt structures.”

The Portfolio consists of the following properties:

• Cypress Lake, 216 units, Houston
• Milano, 330 units, Houston
• Abbey at Vista Ridge, 330 units, Dallas
• Carrington Park, 364 units, Dallas
• Fieldcrest, 180 units, Dallas
• Fossil Hill, 216 units, Dallas
• Sunset Oaks, 320 units, Dallas
• Tall Timbers, 216 units, Dallas
• The Tallows, 252 units, Dallas
• Briarcrest, 238 units, Dallas
• Huntington Glen, 224 units, Dallas
• Villas at Waterchase, 244 units, Dallas

HGI's investment partners in the portfolio include Image Capital. Dirk Goris of CBRE acted as the broker for the seller of the Portfolio. 

Additionally, the HGI is poised to make more large-scale acquisitions.

“HGI remains positioned to execute strategic portfolio acquisitions across multiple markets and we continue to actively seek transactions of this magnitude,” Litton Jr. says.