NORFOLK, VA. — Harbor Group International (HGI) will acquire 11 properties from AH Realty Trust (NYSE:AHRT) for $562 million. The 11 assets represent the majority of Virginia Beach-based AHRT’s multifamily portfolio. The REIT will retain Smith’s Landing and plans to separately market its remaining two properties, The Everly in Roanoke, Virginia, and Solis in Gainesville, Georgia. HGI has provided a $15 million nonrefundable deposit, and the all-cash transaction is not contingent on financing. The transaction is expected to close by mid-year.
AHRT’s long-term goals are to simplify its platform by divesting of multifamily assets, recycling capital and focusing its growth strategy on retail acquisitions. AHRT is also in advanced negotiations to sell two additional real estate investments for approximately $63 million in aggregate proceeds, though further specifics were not disclosed. In 2025, HGI was ranked by MSCI as the top buyer of multifamily real estate in the United States, completing approximately $2.6 billion in acquisitions, which included two major portfolios.