(Read more on the multifamily market.)
INDIANAPOLIS-Harbor Group International LLC has purchased the 740-unit Lakeshore Apartments for $61.2 million from an institutional client of Invesco. The Norfolk, VA-based buyer plans to spend another $4 million to upgrade the 97%-occupied property.
Harbor already has a presence in the city, owning the Keeneland Crest and Oaks of Eagle Creek apartment complexes in the downtown area, says company president T. Richard Litton Jr. He says the firm also owned an office building in the city at one time.
The complex was built in 1989, and features one- and two-bedroom floor plans with an average unit size of 752 sf. Amenities include garages and carports, two heated swimming pools, two clubhouses, a fitness center, a dog park and a car wash, and unit amenities include washers and dryers, as well as patios and balconies.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
