FOR IMMEDIATE RELEASE
February 22, 2001
HARBOR GROUP INTERNATIONAL SELLS APARTMENT COMPLEX
FOR $10.55 MILLION
 NORFOLK,
VIRGINIA – Harbor Group International, L.L.C. has
sold its apartment complex in Jacksonville, Florida for
$10.55 million.
River Run Apartments, a 284-unit complex was sold on February
15 to an affiliate of Renaissance Housing, L.L.C. of New
York. Harbor Group International, headquartered in Norfolk
Virginia, originally purchased River Run in December of
1996 for $5.5 million and subsequently invested $2 million
in renovations and enhancements.
The Apartment Group of Orlando, Florida served as the
broker for the sale.
“While Harbor Group International has been an aggressive
acquirer in recent years, the company regularly sells some
of its properties in order to ‘cash in come of its
chips.’” Said Jordan E. Slone, Harbor Group
International Chairman.
Harbor Group International today controls over $600 million
in investment properties, including office buildings, shopping
centers and multi-family housing complexes in fourteen
states in the U.S. as well as three foreign countries.
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