Harbor Group Buys Two Apartment Communities at $80k/u – CoStar Group

Harbor Group Buys The Villages at Bay Meadows for $84 Million – CoStar Group.

From CoStar:
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.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on June 2, 2014, in Multifamily, Transactions and tagged , , . Bookmark the permalink. Leave a comment.

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