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Harbor Group International Acquires 248-Unit The Heritage Luxury Apartment Community for $81 Million in Boca Raton, Florida

BOCA RATON, FL - Harbor Group International, a privately-owned international real estate investment and management firm, announced the acquisition of The Heritage, a 248-unit, Class A multifamily community in Boca Raton, Fla., for $81 million. Newmark Knight Frank s Hampton Beebe and Avery Klann coordinated the sale. Meridian Capital s Abe Hirsh and Zev Karpel along with Newmark Knight Frank s Henry Stimler and Bill Weber coordinated the financing for the deal.
The Heritage consists of four mid-rise residential buildings located one mile west of Atlantic Ocean beaches. The property is near convenient transportation options, including Palmetto Park Road and I-95, providing access to the employment centers of West Palm Beach, Fort Lauderdale and Miami. The Heritage is also proximate to several shopping, recreation and entertainment options in the immediate area including Mizner Park and Town Center at Boca Raton Mall. ....

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Out-Of-State Multifamily Buyers Eye South Florida

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Out-of-state multifamily buyers eye South Florida
South Florida’s multifamily market starts new year buoyed by out-of-state interest
Miami Issue /
Parc Station
When JLL’s Maurice Habif brought a 336-unit Hollywood apartment complex to market just before Labor Day, he noticed more than the regular crop of institutional investors active in South Florida paying attention.
Habif saw unfamiliar private investors, family offices from outside Florida, even a group financed by 1031 exchange deferred capital gains money. ....

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