(Read more on the multifamilymarket.)
ATLANTA-A Norfolk, VA-based affiliate of Harbor GroupInternational LLC has acquired the 228-unit Abernathy Apartments at550 Abernathy Rd. for $24.35 million. The seller was an affiliateof locally based Invesco.
Harbor Group plans to invest just under $1 million in capitalimprovements to the property. The previous owner had made somecapital improvements, including roof replacements and modernizationof HVAC equipment. “We have looked at a number of properties inthis submarket,” Harbor Group president T. Richard Litton Jr. tellsGlobeSt.com. “This property is close to the UPS headquarters. Wethink there are good job drivers and good economics in thisarea.”
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