Harbor Group opens LA office, recruits new exec

The real estate investment company has been active in New York recently

Los Angeles /
Aug.August 09, 2018 01:00 PM
Harbor Group executive Jordan Slone

Harbor Group International is expanding into Los Angeles.

The real estate investment firm, which is opening an office in L.A., said it also tapped Greg Heller, a former executive at JRK Property Holdings, as senior vice president of acquisitions.

Harbor Group owns more than 200,000 square feet of commercial and retail space in California. In 2016, the firm paid $11 million to acquire a Wells Fargo-leased property on Pico Boulevard in West L.A.

The exact location for its new office is still being finalized, according to a spokesperson for the firm.

Heller will lead the new office, where he will be responsible for sourcing and underwriting acquisition opportunities on the West Coast, according to the statement. Prior to joining the firm, he completed over $2 billion of transactions, translating more than 16,000 apartment units, for JRK, a real estate private equity firm based in L.A.

In addition to its headquarters in Norfolk, Harbor Group has offices in New York City, Baltimore and Tel Aviv.

The commercial firm has been a big investor in the multifamily sector in recent years. In November, the firm acquired a 9,677-unit apartment portfolio from Lone Star Funds for $1.8 billion. The portfolio included rental properties around Washington, D.C., Philadelphia, Baltimore, Chicago and Boston.

Most recently, the firm listed for sale a 15-building portfolio in New York for $65 million. The company, in a joint venture with New York-based investor Isaac Kassirer, had acquired the portfolio, and 23 other buildings, for $140 million.

Combined, the firm’s real estate holdings include 4.8 million square feet of commercial properties and approximately 30,000 apartment units.


Related Articles

arrow_forward_ios
Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet)
Xebec looks to flip Sylmar industrial to self
Xebec looks to flip Sylmar industrial to self
The CitizenM hotel in Los Angeles (Booking)
California starts to refill hotel development pipeline
California starts to refill hotel development pipeline
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Richard Lovett, co-chairman / agent, motion picture library literary, CAA (CAA)
CAA picks JMB Realty’s new Century City tower for HQ
CAA picks JMB Realty’s new Century City tower for HQ
Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
Staley Point, Bain spring for beer bash
Staley Point, Bain spring for beer bash
Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
Rexford’s latest in South Bay brings 307K sf
Rexford’s latest in South Bay brings 307K sf
Microsoft CEO Satya Nadella, Activision Blizzard CEO Bobby Kotick and 2701 Olympic Boulevard (Wikipedia, Loopnet)
Here’s how Microsoft will expand its SoCal office footprint with Activision
Here’s how Microsoft will expand its SoCal office footprint with Activision
11672 San Vicente Boulevard in Brentwood (Google Maps)
Brentwood retail complex fetches $2,000 psf
Brentwood retail complex fetches $2,000 psf
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...