Acquisition adds 336-units to HGI's Texas multifamily portfolio
AUSTIN, Texas, Aug. 21, 2023 -- Harbor Group International, LLC ("HGI"), a privately owned international real estate investment and management firm, today announced the acquisition of The Warner, a 336-unit luxury multifamily community in Round Rock, Texas, a suburb of North Austin. The acquisition marks HGI's reentry into the Austin Market and expands the firm's Texas multifamily portfolio, which is comprised of 8,647 apartment units.
The property is 98% leased as of July 2023, demonstrating strong performance and demand for high-quality apartment housing in the Austin market, the country's fastest-growing city and the tenth-largest city in the United States1.
"Austin has been a priority market for HGI in recent years as the city's strong business environment has supported healthy long-term multifamily supply and demand fundamentals," said Yisroel Berg, Chief Investment Officer – Multifamily at HGI. "As an active credit investor in major Texas markets, we were able to leverage our investment expertise and experience. We look forward to continuing to leverage the breadth of our local and national operating platform and investment capabilities to meet the ongoing demand for high-quality housing in the area."
The Warner is a newly built luxury multifamily community, offering best-in-class in-unit amenities, including stainless steel appliances, walk-in closets, Smart Home keyless entry systems and Smart thermostats. Community amenities include a 24-hour fitness center, resort-style pool and outdoor kitchens, residential lounge, dog park, and a two-story parking garage equipped with electric vehicle charging stations. Newmark's Patton Jones facilitated the transaction.
Situated in close proximity to the Texas State Highway 45 and Insterstate-35, The Warner offers residents accessibility to major community and employment hubs. The community is conveniently located near leading technology companies and job opportunities in the area, including Dell's corporate headquarters, Apple's expanding Austin campus and Samsung's semiconductor manufacturing facility, which is scheduled for completion in 2024.
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.