Harbor Group Buys Two Apartment Communities at $80k/u – CoStar Group
Norfolk, VA-based Harbor International Group added a substantial piece to its multifamily portfolio with the acquisition of the Villages at Bay Meadows at 7915 Baymeadows Circle East in Jacksonville, FL from AIMCO Holdings for $84 million.
Totaling nearly 1.1 million square feet, the Villages at Bay Meadows is an expansive 904-unit garden-style apartment community constructed in 1972 just off I-95 in Jacksonville’s Baymeadows Multifamily submarket. The community offers one- to four-bedroom apartment homes averaging 1,199 square feet across 106 two- and three-story buildings. A 24-hour fitness center, nine resort-style pools, a resident cafe and concierge services are some of the amenities available to current and prospective residents.
Included in the acquisition was the Villages of Bay Meadows Casa Del Mar, a 144-unit sister property constructed up the road at 8025 Baymeadows Circle East.