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Cantor Fitzgerald and Harbor Group Acquire Multifamily Community

Cantor Fitzgerald and Harbor Group Acquire Multifamily Community. Alternative investments, apartment, Cantor Fitzgerald, commercial real estate, DST, investment, multifamily, opportunity zone, real estate, Silverstein Properties
Cantor Fitzgerald and Harbor Group Acquire Multifamily Community. Alternative investments, apartment, Cantor Fitzgerald, commercial real estate, DST, investment, multifamily, opportunity zone, real estate, Silverstein Properties

A joint venture between Cantor Fitzgerald L.P., a financial services and real estate investment company, and Harbor Group International LLC, a privately owned international real estate investment and management firm, announced the acquisition of Avalon Mamaroneck, a 229-unit Class A multifamily community in the Westchester County suburb of Mamaroneck, New York.

“Mamaroneck has many of the desirable attributes we target when acquiring multifamily properties, including a well-educated and high-earning workforce, supply constraints for new construction, and an imbalance between the cost of renting an apartment and home ownership,” shared Matthew Keefer, head of multifamily acquisitions at Cantor Fitzgerald Asset Management.

Avalon Mamaronek was built in 1999 and renovated in 2018; the property offers various in-unit amenities, including washers and dryers, stainless steel appliances, walk-in closets and balconies.

Avalon’s property amenities include a pool, BBQ stations, resident lounges, a fitness center and package assistance. Located approximately 20 miles north of Manhattan, Avalon Mamaroneck is situated within a five-minute walk to the Metro-North Train Station and 0.3 miles from Interstate 95.

“With the acquisitions of Avalon Mamaroneck and The Archer in Acworth, located in the greater Atlanta area, along with HGI assuming property management at Summerfield at Morgan Metro in the greater Washington D.C. area, our relationship with HGI continues to grow. We are thrilled to add HGI to our group of first-class operating partners who share our commitment to creating shareholder value,” added Chris Milner, chief investment officer – Real Assets at Cantor Fitzgerald Asset Management.

Newmark’s Bill Weber and Henry Stimler introduced Cantor Fitzgerald and HGI and secured the financing for the acquisition. CBRE represented the seller, AvalonBay Communities, with Jeff Dunne brokering the sale.

Cantor Fitzgerald is an investment bank serving more than 5,000 institutional clients around the world and an active sponsor of investment programs for individual accredited investors.

For more Cantor Fitzgerald news, please visit their directory page.