FOR IMMEDIATE RELEASE
January 30, 2006

HARBOR GROUP INTERNATIONAL PURCHASES APARTMENT COMMUNITY IN DALLAS, TEXAS

An affiliate of Harbor Group International (HGI) of Norfolk, Virginia has acquired the 474-unit Avalon Parc apartment community in Dallas, Texas.  The purchase comes less than one month after HGI’s first entry into the Dallas market. 

“We are proud to increase our presence in the Dallas-Fort Worth area,” said Richard Litton, Harbor Group International President.  “We believe our proven ‘value added’ capital spending program, along with focused management, will enable the property to meet its full potential.”

Avalon Parc, built in 1991, features one, two and three bedroom floor plans with an average size of 886 square feet.  The Property is currently 95% occupied. 

Amenities include a clubhouse, business center, two swimming pools with sundecks, fitness center, four laundry facilities, playground, sand volleyball court, picnic area with BBQ grills, covered parking and walk-in closets.  Select units feature vaulted ceilings, crown molding, fireplaces, full size washer and dryer connections and outside storage.

As part of HGI’s commitment to improving this property through capital expenditures and amenity upgrades, the property will be renamed Windhaven Park Apartments.

HGI also acquired Vail Village Apartments in Dallas, Texas in December 2005, which contains 259-units. 

Litton added, “Our two recent acquisitions evidence our strong commitment to the Dallas market and we anticipate further expansion into the market in 2006.” 

Harbor Group International, with offices in Norfolk, New York, Chicago, Dallas and Tel Aviv, currently owns more than $1 billion worth of properties throughout the United States.  Since 1990, HGI has acquired over 9,000 apartments in Tennessee, Florida, Georgia, the Carolinas, Maryland, Arkansas, Alabama, Indiana, Ohio and Virginia.  For more information, visit Harbor Group International’s web page at www.harborgroupint.com

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Harbor Group International, with offices in Norfolk, New York, Chicago, Dallas and Tel Aviv, currently own more than $1 billion worth of properties throughout the United States. Since 1990, HGI has acquired over 9,000 apartments in Tennessee, Florida, Georgia, the Carolinas, Maryland, Arkansas, Alabama, Indiana, Ohio, and Virginia. For more information, visit Harbor Group International’s web page at www.harborgroupint.com.

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