{"id":1004031204,"date":"2011-07-26T04:33:22","date_gmt":"2011-07-26T12:33:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004031204"},"modified":"2022-12-05T21:47:08","modified_gmt":"2022-12-06T05:47:08","slug":"jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\/","title":{"rendered":"JLL Brokers $190M Baltimore-Based Multi-Family Sale to Harbor Group"},"content":{"rendered":"

July 26, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em>
\n

\"\"<\/a>

Granite Run in
Windsor Mill, Md.<\/p><\/div><\/p>\n

Warren Buffett once said that the time to be bold in the market is when others are fearful, and if that\u2019s the case, it\u2019s a good time to be as bold as possible. On Monday, JLL announced the completion of the sale of six multi-family properties in Baltimore, with Harbor Group International purchasing the 1,984-unit portfolio for $190.1 million.<\/p>\n

According to intenrnal research by JLL, the Baltimore area\u2019s growing federal-government presence and diverse private-sector tenant base should continue to sustain the market, offsetting losses from state and local government in the next 12 months. In the second quarter of 2011, areas outside of those affected by the military\u2019s growth will likely see stable fundamentals. The multi-family units, then, will bring a hefty return for Harbor, as the local economy continued to add jobs, primarily in the professional-services and healthcare industries.<\/p>\n

Jones Lang LaSalle Managing Director Al Cissel was optimistic about future returns. \u201cThis portfolio offers a range of different product types for potential renters making it appealing on numerous levels,\u201d he said.\u00a0 \u201cThere was a significant amount of interest in the portfolio due to its size, as we continue to see investors looking for large acquisitions that offer increasing cash flow and economies of scale.\u201d<\/p>\n

The Chicago-based firm has been active in the industrial and office sectors in this month alone, signing some large deals for properties in places as diverse as Downtown Los Angeles and Cambridge, Mass. But it\u2019s also been moving in multi-family as well, marketing and selling the $460 million, 2,580-unit Magazine Portfolio in metropolitan Washington, D.C., in the largest deal in that sector since 2008, as well as a $286 million, 1,626-unit portfolio of properties in Maryland and Virginia.<\/p>\n","protected":false},"excerpt":{"rendered":"

Monday, Jones Lang LaSalle announced the completion of the sale of six multi-family properties in Baltimore, with Harbor Group International purchasing the 1,984-unit portfolio for $190.1 million.<\/p>\n","protected":false},"author":1201,"featured_media":1004031205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,10],"tags":[],"class_list":["post-1004031204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-northeast"],"acf":[],"yoast_head":"\nJLL Brokers $190M Baltimore-Based Multi-Family Sale to Harbor Group - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Brokers $190M Baltimore-Based Multi-Family Sale to Harbor Group\" \/>\n<meta property=\"og:description\" content=\"Monday, Jones Lang LaSalle announced the completion of the sale of six multi-family properties in Baltimore, with Harbor Group International purchasing the 1,984-unit portfolio for $190.1 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-07-26T12:33:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T05:47:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/07\/072611-JLL-Granite-Run.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"433\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"JLL Brokers $190M Baltimore-Based Multi-Family Sale to Harbor Group\",\"datePublished\":\"2011-07-26T12:33:22+00:00\",\"dateModified\":\"2022-12-06T05:47:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/\"},\"wordCount\":311,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/07\\\/072611-JLL-Granite-Run.jpg\",\"articleSection\":[\"Featured\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-brokers-190m-baltimore-based-multi-family-sale-to-harbor-group\\\/\",\"name\":\"JLL Brokers $190M Baltimore-Based Multi-Family Sale to Harbor Group - 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