U.S. markets closed
  • S&P 500

    4,210.24
    +87.77 (+2.13%)
     
  • Dow 30

    33,309.51
    +535.10 (+1.63%)
     
  • Nasdaq

    12,854.80
    +360.88 (+2.89%)
     
  • Russell 2000

    1,969.25
    +56.36 (+2.95%)
     
  • Crude Oil

    91.57
    +1.07 (+1.18%)
     
  • Gold

    1,807.70
    -4.60 (-0.25%)
     
  • Silver

    20.58
    +0.09 (+0.45%)
     
  • EUR/USD

    1.0301
    +0.0083 (+0.81%)
     
  • 10-Yr Bond

    2.7860
    -0.0110 (-0.39%)
     
  • GBP/USD

    1.2215
    +0.0139 (+1.15%)
     
  • USD/JPY

    132.9070
    -2.2090 (-1.63%)
     
  • BTC-USD

    23,735.74
    +598.95 (+2.59%)
     
  • CMC Crypto 200

    559.36
    +28.14 (+5.30%)
     
  • FTSE 100

    7,507.11
    +18.96 (+0.25%)
     
  • Nikkei 225

    27,819.33
    -180.63 (-0.65%)
     

Harbor Group International Acquires Multifamily Community in Westchester County, New York

·2 min read

ELMSFORD, N.Y., July 25, 2022 /PRNewswire/ -- Affiliates of Harbor Group International, LLC ("HGI") and Azure Partners ("Azure"), today announced their joint venture for the $306 million acquisition of Avalon Green, a garden-style multifamily community in Elmsford, New York. HGI plans to implement a $9.2 million capital improvement program across the community to refresh amenities and common areas and modernize select interior units.

Harbor Group International (PRNewsfoto/Harbor Group International, LLC)
Harbor Group International (PRNewsfoto/Harbor Group International, LLC)

Built in three phases in 1995, 2012 and 2016, respectively, the property totals 617 units and features a mix of townhouses, apartment homes and stacked flats. A portion of HGI's capital improvement program will focus on updating the interiors in Phase I and Phase II of the community to include contemporary finishes.

Located in Westchester County, Avalon Green offers residents convenient commuter access to nearby employment centers, including New York City, Rockland County and Fairfield County. The property is near Interstate 287 and Saw Mill River Parkway, and is a 10-minute drive to the region's Metro-North train station, providing direct service to Manhattan and Stamford, Conn. Westchester County also features several notable corporate campuses, including IBM, PepsiCo, Mastercard, Morgan Stanley and Regeneron.

"Avalon Green is an attractive fit for HGI's multifamily portfolio given its strategic location between several employment centers and transportation options along with the significant value-add potential of the community," said Richard Litton, President, HGI. "We see long-term demand fundamentals for the Westchester area as renters seek housing in suburban markets."

Amenities offered at the property include two saltwater swimming pools, a clubhouse and resident lounge and detached garages.

About Harbor Group International
Harbor Group International, LLC, and its affiliates control an investment portfolio of $19 billion including 4.9 million square feet of commercial space throughout the United States and the United Kingdom and 63,000 apartment units in the United States. In addition to its corporate headquarters in Norfolk, Virginia, HGI maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv.

Media contact:
Morgan McGinnis
mmcginnis@prosek.com

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/harbor-group-international-acquires-multifamily-community-in-westchester-county-new-york-301592810.html

SOURCE Harbor Group International, LLC