FOR IMMEDIATE RELEASE
HARBOR GROUP INTERNATIONAL PURCHASES
APARTMENT COMMUNITY IN INDIANAPOLIS
Harbor Group International (HGI) of Norfolk,
Virginia, has acquired Keeneland Crest Apartments in Indianapolis,
Indiana. The 424-unit garden-style property was purchased
from D&S Investments for $21,300,000. Colliers
Turley Matin Tucker of Indianapolis served as the broker
for the seller.
“
Keeneland Crest is an excellent addition to HGI’s
portfolio,” said Sid Bridge, Spokesman for
Harbor Group International. “We believe that
its superior location and amenities combin ed
with our thorough management practices will give
this property a competitive edge.”
HGI plans on spending $530,000 to upgrade the property in order to implement
its effective management strategy. The upgrade will enhance the
property’s aesthetics and curb appeal, as well as upgrade its amenities.
Keeneland Crest Apartments was built in phases from 1995 to 1998. The
Property contains one- and two-bedroom apartments with an average square
footage of 969. Amenities include a swimming pool, a 24-hour fitness
center, volleyball and basketball courts, a covered car wash area, carports,
parking garages, and washers and dryers.
HGI has a long history of successful apartment acquisitions in the Midwest
and Southeast regions. Since 1990, HGI has acquired in excess of
8,500 apartments in Tennessee, Kentucky, Florida, the Carolinas, Maryland,
Arkansas, Indiana, Ohio and Virginia. The company has acquired
more than 1,800 units this year alone.
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