CHICAGO-Norfolk, VA-based Harbor Group International has made a $47.4 million investment in Fort Wayne, IN and Toledo, OH, buying nearly 1,000 multifamily units from the State of Wisconsin Investment Board for $47.4 million. The properties are considered class-A, institutional quality, according to Harbor Group International chairman and chief executive officer Jordan E. Slone, but the company plans $3 million in upgrades.

Harbor Group International adds the 448-unit Willows of Coventry and 248-unit Pointe Inverness complexes in Fort Wayne as well as the 296-unit Perrys Crossing in Toledo. The Fort Wayne properties are both garden-style complexes built in 1987, with a combined 46 buildings. Perrys Crossing is a 10-building complex built in 1991.

Harbor Group International has made $110 million in acquisitions in the first five months of 2002, increasing the value of its office, retail, and multifamily portfolio to $800 million.

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