{"id":1004051838,"date":"2012-06-20T19:56:37","date_gmt":"2012-06-21T03:56:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=53576"},"modified":"2022-12-04T06:09:04","modified_gmt":"2022-12-04T14:09:04","slug":"orlando-community-part-of-100m-portfolio-acquired-by-harbor-group","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\/","title":{"rendered":"Orlando Community Part of $100M Portfolio Acquired by Harbor Group"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor\"\"<\/a><\/em><\/p>\n

Affiliates of Harbor Group International, LLC have paid $99.7 million for a three-property Florida multifamily portfolio; the portfolio, consisting of a total of 1,218 units, included the Island Club gated community at 1401 South Kirkman Road, Orlando. This transaction is Harbor Group\u2019s third apartment portfolio acquisition in the last 12 months, following the acquisition of a 1,984 unit portfolio in Metro Baltimore and a 2,500 unit portfolio in southeastern Virginia.<\/p>\n

\u201cThe acquisition of the portfolio reflects HGI\u2019s strategic decision to expand our investment and operational presence in major Florida markets,\u201d said T. Richard Litton, Jr., president of Harbor Group International.\u00a0 \u201cAll three of the assets are located in stable, high traffic submarkets and are well positioned to benefit from improving apartment fundamentals in South Florida and Orlando, particularly upon completion of our capital improvement program,\u201d he added.<\/p>\n

The seller\u2014a joint venture between AEW and The Bainbridge Companies\u2014was represented in the sale by CBRE South Florida Multi-Housing Group\u2019s executive vice president Robert Given and Zachary Sackley. CBRE has also secured $75 million in financing for the acquisition.<\/p>\n

Harbor Group has also announced that it plans to invest an additional $4.9 million\u2014approximately $4,000 per unit\u2014into various exterior and interior upgrades.<\/p>\n

The 471-unit Island Club is a gated community located just minutes away from downtown Orlando and Universal Studios; its one-, two- and three-bedroom units feature expansive kitchens with natural lighting, energy efficient ceiling fans, large walk-in closets, washers and dryers, and vaulted ceiling. Amenities include club-class fitness center with state-of-the-art cardio court, clubhouse with game room and lounge, controlled-access gated entrance, outdoor tennis court and volleyball court, indoor racquetball court, and car care center.<\/p>\n","protected":false},"excerpt":{"rendered":"

Affiliates of Harbor Group International, LLC have paid $99.7 million for a three-property Florida multifamily portfolio; the portfolio, consisting of a total of 1,218 units, included the Island Club gated community at 1401 South Kirkman Road, Orlando.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[39399],"class_list":["post-1004051838","post","type-post","status-publish","format-standard","hentry","category-latest","category-orlando","tag-orlando"],"acf":[],"yoast_head":"\nOrlando Community Part of $100M Portfolio Acquired by Harbor Group - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orlando Community Part of $100M Portfolio Acquired by Harbor Group\" \/>\n<meta property=\"og:description\" content=\"Affiliates of Harbor Group International, LLC have paid $99.7 million for a three-property Florida multifamily portfolio; the portfolio, consisting of a total of 1,218 units, included the Island Club gated community at 1401 South Kirkman Road, Orlando.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-21T03:56:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T14:09:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/Island-club.jpg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"Orlando Community Part of $100M Portfolio Acquired by Harbor Group\",\"datePublished\":\"2012-06-21T03:56:37+00:00\",\"dateModified\":\"2022-12-04T14:09:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/\"},\"wordCount\":285,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/06\\\/Island-club.jpg\",\"keywords\":[\"Orlando\"],\"articleSection\":[\"News\",\"Orlando\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orlando-community-part-of-100m-portfolio-acquired-by-harbor-group\\\/\",\"name\":\"Orlando Community Part of $100M Portfolio Acquired by Harbor Group - 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