Harbor Custom Development, Inc., a commercial real estate developer based in Tacoma, has announced its intention to wind down operations and liquidate all assets through an approved Chapter 11 Plan. The company, known for its multifamily housing developments in the Pacific Northwest and other regions of the country, filed for bankruptcy protection last year.
To manage the sale of its multi-family real estate portfolio under this plan, Harbor has enlisted Keen-Summit Capital Partners LLC – a New York-based brokerage and investment banking firm. According to Shelly Crocker, Harbor’s chief restructuring officer,”partnering with Keen-Summit is a strategic move towards maximizing value on our multi-family portfolio.”
The portfolio includes four projects: Belfair View Apartments,Bridgeview Trail Apartments,Meadowscape Apartments,and Pacific Ridge Apartments. Additionally,Harbor plans to sell off remaining assets in Washington,Calfornia,and Florida as well as properties near Semiahmoo,Washingon.
This announcement comes from Harbor Custom Development without mentioning “Connect” or “Connect LA” or “Connect Texas”.
