Le Lézard
Classified in: Business
Subject: RLE

Harbor Group International Acquires Myrtle Beach Multifamily Community

MYRTLE BEACH, S.C., Aug. 25, 2023 /PRNewswire/ -- Affiliates of Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, today announced the $64.4 million acquisition of Artisan Carolina Forest, a 276-unit multifamily community in Myrtle Beach, S.C. This transaction represents HGI's second acquisition of a newly built multifamily property in one week following the acquisition of The Warner in Austin, Texas.

Located directly off Highway 31, Artisan Carolina Forest is central to Myrtle Beach's ample recreation and leisure offerings, including miles of coastal beaches, resorts, golf courses and restaurants. The community is adjacent to the Marketplace at the Mill, a shopping center providing a variety of nearby retail options for residents, and is in proximity to several medical centers that serve as key employers to the area.

"With affordable rents relative to other high-growth coastal cities, Myrtle Beach is one of South Carolina's most attractive multifamily markets," said Yisroel Berg, Chief Investment Officer ? Multifamily. "As a newly developed luxury community, we anticipate substantial opportunity to attain a strong renter base at Artisan Carolina Forest and achieve steady rent growth as the area continues to attract new residents."

Developed in 2022, the community features a premier amenity package, including a resort-style pool with a TV lounge and cabanas, a dog park, electrical vehicle charging stations, a fitness and yoga center and coworking and conference rooms. Apartment interiors include luxury finishes, oversized kitchen islands, walk-in showers, modern backsplashes and dual vanities.

Northmarq's John Currin and Andrea Howard facilitated the transaction.

About Harbor Group International
Harbor Group International, LLC, and its affiliates control an investment portfolio of approximately $20 billion, including 58,000 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, HGI maintains offices in New York, Baltimore, Los Angeles, and Tel Aviv. Follow HGI on LinkedIn.

Media Contact:
Kailyn Myshrall
[email protected] 

SOURCE Harbor Group International, LLC

These press releases may also interest you

at 12:16
The Bone Health and Osteoporosis Foundation (BHOF) is pleased to announce the 2023 recipients of our national award to recognize Members of Congress who have demonstrated outstanding leadership, advocacy, and commitment to protect and improve the...

at 12:15
The Board of Trustees (the "Board") of each of Invesco High Income Trust II and Invesco Senior Income Trust (each, a "Fund" and collectively, the "Funds") today declared the following dividends:...

at 12:15
The Board of Trustees of each of the Invesco closed-end funds listed below today declared the following dividends.  EX-DATE 12/14/23...

at 12:09
The following issues have been halted by CIRO Company: Osisko Development Corp.  TSX-Venture Symbol: ODV.WT  All Issues: No  Reason: Pending Delisting  Halt Time (ET): 12:00 PM CIRO can make a decision to impose a temporary suspension (halt) of...

at 12:08
1st Opus is reshaping both the entertainment and banking industry with their state-of-the-art digital wallet and payment services. 1st Opus is not a bank, but an innovative ecosystem that fosters connections between artists and their fan base....

at 12:07
Lucas Oil, the world leader and distributor of high-performance automotive additives and lubricants, announced its expansion into the Brazilian market. In a strategic move aimed at bringing high-quality automotive products to...

News published on and distributed by: