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.”

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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.