Harbor Group International is under contract to acquire five 1970s-era multifamily properties in Greater Boston from Aimco for $740 million.

The assets, which are in Boston suburbs in Massachusetts, New Hampshire and Rhode Island, total over 2,700 units and were 95.7% occupied as of July. HGI currently owns 978 units in the area and has bought and sold over 3,100 apartments across nine properties in Massachusetts.

“The addition of these communities will deepen HGI’s presence within the Boston area, a market exhibiting robust multifamily fundamentals where we already have a strong operating footprint,” Yisroel Berg, chief investment officer of multifamily for HGI, said in a press release. “With limited new supply in the surrounding areas of each property, we will be well-positioned to leverage our local market knowledge to maintain stable occupancy levels and implement targeted renovations that enhance the resident experience.”