AH Realty Trust sells 225-unit property, cuts debt
By Brie CarterKey points
- AH Realty Trust (NYSE:AHRT) completed the sale of Greenside Apartments, a 225-unit property in Charlotte, North Carolina, to affiliates of Harbor Group International.
- The property sold at its full contract price without adjustment, with proceeds used to reduce debt and bring leverage within the company's target range of 5.5x–6.5x.
- The transaction brings completed multifamily property sales to 12 of 13, with the remaining Premier Apartments sale expected to close in Q2 2027.
AH Realty Trust (NYSE:AHRT) completed the sale of Greenside Apartments to affiliates of Harbor Group International, marking the 12th completed transaction in its planned sale of 13 multifamily properties.
The transaction advances the company's debt-reduction programme, with proceeds from its property disposals bringing net debt to adjusted EBITDA leverage within its target range of 5.5x–6.5x.
Greenside Apartments, a 225-unit property in Charlotte, North Carolina, sold at its full US$50 million contract price without subsequent adjustment, and AH Realty Trust used the proceeds to further reduce debt.
The sale leaves Premier Apartments as the final property under contract with Harbor Group International, with AH Realty Trust expecting the transaction to close in the second quarter of 2027.
AH Realty Trust has also sold its general contracting and real estate services business and exited its real estate financing programme, shifting its focus toward retail and mixed-use office properties across the Mid-Atlantic and Southeastern United States.
