FOR IMMEDIATE RELEASE
October 27, 2005
HARBOR GROUP INTERNATIONAL PURCHASES
APARTMENT COMPLEX IN COLUMBIA, SOUTH CAROLINA
Harbor Group International (HGI) of Norfolk, Virginia,
has purchased Paces Brook Apartments in Columbia, South
Carolina. The 260-unit apartment community was purchased
for $14,800,000. HGI intends to invest an additional
$390,000 into the Property in interior and exterior
upgrades.
“HGI believes our proven maintenance and capital
expenditure program, along with focused management,
will enable the Property to meet its full potential”,
said Sid Bridge, Spokesman for Harbor Group International,
“The purchase of Paces Brook is complimentary
to the strategy that HGI has applied to prior acquisitions”.
Paces Brook, built in 1990, is situated on 13.4 acres
and features multiple one, two and three bedroom floor
plans with an average size of 944 square feet. Property
amenities include a clubhouse, fitness center, swimming
pool with gazebo, tennis court, laundry facility, two-bay
car care center and picnic areas with gas grills. Select
units feature washer and dryer connections, wood burning
fireplaces, ceiling fans and vaulted ceilings.
Since 1990, HGI has acquired over 11,000 apartments
in Tennessee, Florida, Georgia, the Carolinas, Maryland,
Arkansas, Alabama, Indiana, Ohio, and Virginia. HGI
also owns Greenbrier Apartments in Columbia, South Carolina
which contains 526-units.
Harbor Group International, with offices in Norfolk,
New York, Chicago and Tel Aviv, currently own more than
$1 billion worth of properties throughout the United
States. For more information, visit Harbor Group International’s
web page at www.harborgroupint.com.
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