Contact:         
James Scott
Director of Marketing & Public Relations
Phone:  (757) 640-0800
Cell:      (757) 285-6521
Email:   jscott@harborg.com

FOR IMMEDIATE RELEASE
April 25, 2006

HARBOR GROUP INTERNATIONAL ANNOUNCES
CLOSING OF MULTIPLE TRANSACTIONS

Harbor Group International (HGI) announces the closing of the company’s four latest transactions: the purchases of an office building and an apartment community, and the sales of a business park and single tenant office building.

An affiliate of HGI has acquired the 18-story, 436,340 square foot Hurt Building and adjacent 785-space parking structure in Atlanta from A.R.C. Inc. (a wholly owned subsidiary of Atlantic Investment Company), and plans to invest more than $500,000 in interior and exterior upgrades.

“We are very excited about this acquisition”, said Richard Litton, President of Harbor Group International.  “The Hurt Building is an Atlanta landmark, and fortifies our corporate strategy of investing in commercial properties in downtown metropolitan areas.”

Since October 2004, HGI affiliates have acquired two downtown office buildings and three apartment communities in the Atlanta market.

In Indianapolis, an affiliate of HGI has acquired the 632-unit Oaks of Eagle Creek apartment community from Capri Capital Advisors LLC and plans to invest approximately $1.1 million in interior, exterior and amenity upgrades.

“Oaks of Eagle Creek is a well-positioned property on the rapidly growing west side of Indianapolis that offers significant upside potential,” said Bob Weber, Director of Multi-Family Asset Management for Harbor Group International.
In Nashville, HGI has sold Synergy Business Park to an investment group and fund sponsored by Philadelphia-based Urdang Capital Management, Inc. Acquired in October 2002, the property consists of eight three-story buildings with 494,876 rentable square feet.

Located in the heart of Brentwood's office district, the park is recognized in Nashville as one of the most picturesque and convenient office properties in the city.

 “We are pleased with the performance of Synergy Business Park and we were able to execute our exit strategy perfectly,” said Robert Friedman, Director of Portfolio Management for Harbor Group International. 

And in Virginia Beach, HGI has sold the Bryant & Stratton College building to New Jersey-based GMJ Investments. Acquired in September 2004, the single-building property offers 28,300 rentable square feet and was 100% occupied by Bryant & Stratton at the time of the sale.

HGI, which holds an investment portfolio in excess of $1.5 billion, currently owns approximately 5.8 million square feet of office space throughout the United States and more than 10,000 apartment units. The group maintains offices in Norfolk, New York, Tel Aviv, Chicago and Dallas.

For more information, visit Harbor Group International on the web at www.harborgroupint.com.

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