Harbor Group International Acquires South Florida Apartment Community
POMPANO BEACH, FLORIDA (June 19, 2018) – Harbor Group International, LLC (“HGI”) announced today that affiliates of the Company have acquired Jefferson Lighthouse Apartments, a 243-unit class A apartment community located in Pompano Beach, Florida, just south of Boca Raton and north of Fort Lauderdale.
The property, built in 2015, is currently 94% occupied. HGI plans to spend an additional $850,000 on capital improvements.
“Jefferson Lighthouse is a luxury apartment community with a desirable range of amenities, benefiting from an infill location in a strong market,” said T. Richard Litton, Jr., President of HGI. “HGI continues to actively seek opportunities to acquire class A apartment properties in key markets such as South Florida.”
HGI has significant experience in markets throughout Florida and currently owns more than 3,500 units throughout the entire state and nearly 1,000 in South Florida. In May of this year, HGI affiliates acquired two Class A apartment communities in Orlando, Florida.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued at $7.3 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore, Los Angeles and Tel Aviv. The company’s real estate holdings include 4.8 million square feet of commercial properties and 30,000 apartment units. For additional information, please visit www.harborgroupint.com.
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