Dubai-based leading asset management company Neo Capital has expanded its global portfolio with the purchase of a $73 million worth property in Stamford, United States.
Harbor Landing, a Class A multi-family five-story asset that sits on nearly three acres of waterfront property, has been acquired by the Dubai company in collaboration with US-based Monday Properties.
According to the company statement, the waterfront Harbor Landing property, which sits on almost three acres within the Harbor Point neighborhood, features studio, one- and two-bedroom apartments with high-quality finishes, and offers a range of premium amenities including a pool, a club room, a fitness center, and an expansive outdoor sundeck equipped with fire pits, outdoor TVs and grills.
The latest acquisition follows major Neo Capital acquisitions in Arlington Virginia and the Netherlands in 2020 and further underscores the company’s strategic trans-Atlantic asset portfolio. Furthermore, the latest asset is expected to provide investors in the UAE and the Gulf region the opportunity to diversify their portfolios in a market that is highly resilient to growth.
“Harbor Landing is a strategic investment for Neo Capital, which provides access to one of the best multi-family markets in the United States. It speaks to the strength of our partnership with Monday Properties and our continued confidence in the multifamily sector. The property was acquired at a very competitive rate per square foot given prevailing real estate prices in the area and is another example of our commitment to provide sound investment options with significant potential for investors looking to accumulate long-term wealth through diversified portfolios.”
“The Harbor Landing acquisition is a major milestone for us and a testament to our commitment to building our multifamily portfolio. The property has Class A finishes and amenities and provides access to a competitive, growing market that has survived and thrived during COVID-19,” commented Adam Carr, Executive Vice President of Investments at Monday Properties.