Harbor Group International Sells New Jersey Multifamily Community
SOMERSET, N.J., June 24, 2026 /PRNewswire/ -- Affiliates of Harbor Group International, LLC ("HGI"), a leading global real estate investment and management firm, today announced the sale of Grove at Somerset, a 384-unit multifamily community in Somerset, New Jersey. CBRE facilitated the off-market transaction.
Built in 2013, the community is located in one of Central New Jersey's most desirable suburban multifamily markets, offering convenient access to major employment centers and transportation corridors, including Interstate 287 and Route 27.
During its ownership, HGI executed a targeted value-add strategy, focused on elevating the resident experience and driving revenue growth. Capital improvements included renovations to unit interiors and select community upgrades to position the property to capitalize on the area's strong renter demand and healthy multifamily fundamentals.
"This sale reflects the successful execution of our business plan for Grove at Somerset and the resilience of Central New Jersey's multifamily market," said Lane Shea, Managing Director at HGI. "Over the past several years, multifamily transaction markets have faced considerable headwinds, making disciplined asset management and timing increasingly important. Through active management and strategic investments in the community, we've strengthened the property's competitive position and ultimately delivered a successful outcome on behalf of our investors."
Leveraging its integrated national platform, HGI continues to be one of the most active participants in the U.S. apartment market. The firm ranked as the No. 1 multifamily buyer in 2025 according to MSCI and was named the No. 15 apartment owner in the nation on the National Multifamily Housing Council's Top 50 Owners list.
About Harbor Group International
Harbor Group International, LLC is a privately owned global real estate investment and management firm with a focus on multifamily, office, and other real estate asset classes. The firm invests across the risk spectrum, including real estate equity and credit strategies, and manages assets on behalf of a diverse investor base that includes institutional investors, family offices, and private wealth clients. In addition to its corporate headquarters in Norfolk, Virginia, Harbor Group International maintains offices in New York, Baltimore, Los Angeles, Hong Kong, and Tel Aviv. Follow Harbor Group International on LinkedIn.
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SOURCE Harbor Group International, LLC
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