FOR IMMEDIATE RELEASE
June 11, 2001
HARBOR GROUP INTERNATIONAL PURCHASES
ISLAND POINTE APARTMENTS IN JACKSONVILLE
 Harbor
Group International (HGI) of Norfolk, Virginia has acquired
the 288-unit Island Pointe apartment complex in Jacksonville,
Florida. HGI purchased the property from Watch Holdings,
Inc. at a purchase price of $9,000,000.
“Island Pointe represents a great opportunity for
Harbor Group International,” said Jordan E. Slone,
Harbor Group International Chairman and CEO, “we
have already proven ourselves in the highly-competitive
apartment market and look forward to implementing our management
strategies at this property.”
Built in 1986 and located in the north side of Jacksonville,
the property contains 19 buildings with one, two, and three
bedroom units. In addition, there is a fitness center,
playground, lighted tennis court, volleyball court, and
a swimming pool.
Harbor Group International has a long history of successful
apartment ownership and management, having acquired over
7,000 units across the southeastern United States since
1991.
Harbor Group International’s acquisition of Island
Pointe Apartments comes on the heels of it’s acquisition
of Sanctuary Centre Office Park, a 176,000 square foot
office complex in Boca Raton Florida, and National City
Center, a 640,000 square foot office tower in Indianapolis,
Indiana.
Harbor Group International currently owns in excess of
$650 million worth of properties in 15 states in the United
States as well as three different countries.
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