Harbor Group to Pay $562 Million for 2,400-Unit Collection

March 17, 2026

Finance & Investment Featured Market Rate News More Northeast Southeast

AH Realty Trust, formerly Armada Hoffler, will sell nearly all its multifamily holdings.

Harbor Group International has entered into an agreement to acquire an 11-asset portfolio for $562 million in an all-cash deal. AH Realty Trust, formerly Armada Hoffler, will divest the collection, which, according to Yardi Matrix, encompasses 2,433 units across four states. The acquisition is expected to close mid-year.

The 11 properties are as follows:

Encore Apartments, 286 units at 4505 Main St. in Virginia Beach, Va.
Premier Apartments, 131 units at 165 Central Park Ave. in Virginia Beach
The Cosmopolitan, 342 units at 4544 Columbus St. in Virginia Beach
Allied, 312 units at 1402 Point St. in Baltimore
1405 Point St., 289 units in Baltimore
1305 Dock St., 102 units in Baltimore
Greenside Apartments, 225 units at 1315 Harding Place in Charlotte, N.C.
Chronicle Mill Apartments, 238 units at 96 E. Catawba St. in Belmont, N.C.
Chandler Residences, 137 units at 1055 Alpharetta St. in Roswell, Ga.
The Edison, 174 units at 700 E. Franklin St. in Richmond, Va.
Liberty Apartments, 197 units at 3201 Washington Ave. in Newport News, Va.

Despite these properties performing well, their value was not reflected in the public market’s share price valuation, said AH Realty Trust Chairman, President & CEO Shawn Tibbetts in prepared remarks.

This deal allowed the firm to realize that value and begin pivoting away from multifamily toward office and retail. AH Realty first announced its intention to divest its residential holdings earlier this year, when it also rebranded away from Armada Hoffler.

These 11 communities represent nearly all of AH Realty Trust’s multifamily portfolio, leaving the company with three other properties, namely Smith’s Landing, The Everly and Solis Gainesville. The trio amounts to 691 units across Virginia and Georgia. The seller is also looking to divest two of these assets as well.

Multifamily liquidations rise

AH Realty Trust is the latest company that plans to sell its multifamily assets as the market continues facing headwinds. Earlier this month, Stratus Properties started exploring the possibility of liquidation and dissolution, which is still subject to stockholder approval.

This multifamily trend swept across the market last year as well. In August, Elme Communities sold its 19-asset collection for $1.6 billion to Cortland Partners. in November, Aimco also announced its intention to liquidate its assets. One month later, it sold its Chicago holdings for $455 million.