Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Friday, February 06, 2015
Virginia investor buys 10 DFW apartment properties
A Norfolk, Virginia-based Harbor Group International LLC has
bought 10 properties totaling nearly 3,000 apartment homes in Dallas-Fort
Worth, which is part of a larger Texas-based deal.
In total, the real estate investment firm purchased 12
properties totaling 3,100 apartments in Dallas and Houston. The deal is the
largest in its company's history. Terms were undisclosed.
The investment group also purchased this 330-unit apartment
complex, called the Milano, in Houston. The group plans to buy more properties
Harbor Group plans to invest another $10 million upgrading
the interior apartments, enhance amenities for tenants and improve curb appeal.
The deal was part of Harbor Group's strategic plan to expand
its investment and operational presence in major Texas markets, President T.
Richard Litton Jr. said.
"HGI remains positioned to execute strategic portfolio
acquisitions across multiple markets and we continue to actively seek
transactions of this magnitude," Litton said, in a statement.
In Dallas-Fort Worth, Harbor Group purchased:
330-unit Abbey at Vista Ridge
364-unit Carrington Park
216-unit Fossil Hill
320-unit Sunset Oaks
216-unit Tall Timbers
224-unit Huntington Glen
244-unit Villas at Waterchase
CBRE's Dirk Goris represented the portfolio's seller in the