MIAMI, July 21, 2022 /PRNewswire/ — Subsidiaries of Harbor Group International, LLC (“HGI”), a privately-held international real estate investment and management company, today announced the acquisition of Miro Brickela 372-unit Class A multifamily property in the Brickell neighborhood of miamifor $184.5 million. The acquisition marks the seventh property currently owned by HGI in Miami Dade Countycovering more than 1,500 units.
by Miro Brickell the central location provides convenient access to various employment and entertainment centers throughout miami. The property is located minutes from I-95 and Brickell’s Metrorail and Metromover stations, connecting residents to Downtown Miami, Downtown Doral and miami International airport.
As miami experiencing a boom in business relocations, Miro Brickel is within walking distance to over 8 million square feet of office space. Several financial and technology providers have moved to the neighborhood, bringing new residents to the area, including Microsoft, Apollo Global Management, Millennium Management and Citadel, which recently announced plans to move its global headquarters to Brickell.
“miami is a priority market for HGI given its long-term multi-family fundamentals driven by business expansion and immigration trends, resulting in strong investment opportunities,” said Richard Litton, Chairman, HGI. “As a long-time investor in the region, we will use our in-depth knowledge of the market to capitalize on rental demand in the region and improve ownership efficiency.”
Built in 2017, by Miro Brickell amenities include outdoor electric grills, cabanas, and a resort-style pool. Individual units include balconies and are outfitted with stainless steel appliances, energy-efficient washers and dryers, and modern finishes.
HGI has been an active investor in South Floridarecently acquired ParkLine Miami, two luxury apartment towers in Downtown Miami.
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 retail space throughout United States and the UK and 63,000 apartments in United States. In addition to its head office in Norfolk, VirginiaHGI has offices in New York, Baltimore, Los Angelesand Tel Aviv.
SOURCE Harbor Group International, LLC