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Riverbend Village apartments acquired by Greensboro real estate firm Bell Partners
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Bell Partners of Greensboro buys Riverbend Village apartments in Charlotte for $58 1M
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Bainbridge NoDa apartments in Optimist Park sell to TA Realty - Charlotte Business Journal
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NORFOLK, VA - Harbor Group International, a privately-owned international real estate investment and management firm, announced the acquisition of a portfolio of eight multifamily communities in the U.S. Southeast for $309 million.
Seven properties are in North Carolina markets, including Charlotte, Raleigh, Winston-Salem, Greensboro, Durham, and one property is in Hampton, Va.
The portfolio was sold by Newmark s Dean Smith and John Heimburger and financing was arranged by Newmark Capital Markets Team Henry Stimler, Bill Weber and Matt Mense.
The acquisition marks HGI s return to the North Carolina market and expands the firm s footprint in Virginia. The portfolio totals more than 2,300 units and each property is proximate to major employers and office markets as well as entertainment centers.
Harbor Group International (HGI) has acquired an eight-property
multifamily portfolio for a JV of McDowell Properties and Angelo Gordon for
$309 million.
Know as The Southern Piedmont Portfolio, the package
includes 2,322 units spread across suburban submarkets in North Carolina and
Virginia.
HGI plans a $13 million capital expenditure program to upgrade and modernize the properties, which has an average vintage in the early 1990s, with about 71 percent of the garden-style units featuring classic or lightly renovated finishes.
A team from Newmark that included John Heimburger, Christine
Espenshade, Dean Smith, Sean Wood, Alex Okulski, Jason Kon and John Munroe were
the sole brokers on the transaction.