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Harbor Group International Exits Somerset Multifamily Property

Harbor Group International Exits Somerset Multifamily Property

A 384-unit residential complex in Somerset, New Jersey, has changed hands in an off-market deal facilitated by CBRE. The sale of Grove at Somerset marks the conclusion of a multi-year value-add investment strategy for Harbor Group International, which held the property since it was built in 2013.

The community sits in a prime Central New Jersey corridor, positioned near major transit arteries including Interstate 287 and Route 27. Harbor Group International focused on interior unit renovations and broader facility upgrades during its ownership period to capitalize on the region’s persistent renter demand.

Lane Shea, Managing Director at HGI, noted that the exit underscores the resilience of the local multifamily sector despite broader market volatility. The firm, which claimed the top spot for multifamily acquisitions in 2025 according to MSCI, utilized its internal management platform to drive revenue growth and sharpen the property's competitive edge before divesting.

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