DALLAS-Affiliates of Harbor Group International,LLC (HGI) have sold the 228-unit Stone RidgeApartment community in Dallas.

The property was acquired by HGI in December of 2006 and HGIinvested nearly $1 million in property improvements following theacquisition.

“Stone Ridge represents HGI's first exit from the North Dallasmarket, a desirable market that has been quite successful for us,”said T. Richard Litton, president of HGI. “The combination ofstrong performance at the property level and a healthy investorappetite for apartment transactions in NorthDallas allowed us to successfully exit this investment. HGIaffiliates own four other properties in the area totaling 1,550units.”

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 2024 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.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.