#United States #Dallas #Harbor Group #Dallas Real Estate #Livano Canyon

Harbor Group International Acquires Livano Canyon Falls

Harbor Group International, LLC (HGI), a prominent name in real estate investment and management, has announced its latest acquisition of Livano Canyon Falls, a freshly developed multifamily community located in the Northlake area of Texas. This remarkable property, which includes 300 apartments, is part of the expansive Canyon Falls master-planned community, encompassing over 1,199 acres that also span into Argyle and Flower Mound.

This acquisition aligns perfectly with HGI's strategy to invest in rapidly growing markets. According to Yisroel Berg, Chief Investment Officer of Multifamily at HGI, the choice to acquire this new asset is seen as a vital step towards capitalizing on a dynamic segment of the Dallas-Fort Worth area. His confidence in the location rests on the firm’s extensive management expertise in Texas, which they plan to leverage for successful leasing and revenue enhancement as the property stabilizes.

Located in Northwest Dallas, this area has witnessed a staggering 513% increase in population from 2010 to 2020, showcasing its rapid growth. Amidst this transformation, new multifamily developments remain scarce, with Livano being one of the few projects currently accessible to prospective residents. Its location offers direct access to AllianceTexas, a colossal 27,000-acre development that acts as a major economic driver for the region. This makes Livano Canyon Falls particularly attractive to prospective tenants, providing proximity to some of the biggest employers, including notable companies like Deloitte, Charles Schwab, Fidelity, Amazon, and Facebook.

Livano Canyon Falls boasts a variety of apartment layouts, featuring one-, two-, and three-bedroom units with an average floor plan of 1,015 square feet. The interior of these units is designed for modern living, equipped with high ceilings, stainless steel appliances, and either private balconies or patios, with select units including private backyards. The community also offers enticing amenities such as a stylish clubhouse, an entertainment-ready kitchen, private offices, a business center complete with conference rooms, and a resort-style swimming pool surrounded by a sun deck. To accommodate the growing trend of electric vehicles, the property includes electric vehicle charging stations, making it a future-ready community.

HGI’s investment in Livano Canyon Falls further solidifies its already significant presence within the Dallas-Fort Worth metropolitan area, where the firm has a portfolio of nearly 40 properties established over the years, demonstrating a long-standing commitment to this market.

With an impressive investment portfolio that's valued at around $20 billion, encompassing 57,000 apartment units across the United States and significant commercial spaces in both the U.S. and the UK, Harbor Group International is well-positioned to leverage this new acquisition. Their corporate headquarters in Norfolk, Virginia serves as a base, while additional offices are located in strategic hubs including New York, Baltimore, Los Angeles, and Tel Aviv.

In summary, HGI's acquisition of Livano Canyon Falls not only expands its footprint in one of the fastest-growing real estate markets in the U.S. but also enhances its mission to deliver quality living spaces that cater to the needs of modern residents. As the Dallas area continues to flourish, investments like these are crucial for meeting the ever-increasing demand for multifamily housing and contributing to the region's economic development.