AH Realty Trust (AHRT) said on Monday that it has entered into a binding agreement with an affiliate of Harbor Group International to sell an 11-asset multifamily portfolio for $562 million in cash, subject to adjustments.
The agreement includes a $15 million non-refundable deposit and is not contingent on financing. The company expects the transaction to close in mid-2026.
Chief Executive Officer Shawn Tibbetts said proceeds will be used primarily to reduce debt and support the company's leverage target of 5.5x to 6.5x net debt to adjusted EBITDA.
The assets represent nearly all of AH Realty Trust's multifamily portfolio, excluding Smith's Landing, while Everly and Solis Gainesville are also expected to be marketed for sale as part of the company's restructuring strategy.
AHRT is currently trading at $5.68, up $0.22 or 3.93 percent on the New York Stock Exchange.
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