{"id":1004121032,"date":"2015-06-11T06:06:58","date_gmt":"2015-06-11T14:06:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004121032"},"modified":"2022-12-08T18:17:34","modified_gmt":"2022-12-09T02:17:34","slug":"harbors-latest-flip-in-nashville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/","title":{"rendered":"Harbor\u2019s Latest Flip in Nashville"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004121034\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/cherry-creek\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg\" data-orig-size=\"1467,978\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Cherry Creek\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg?w=1024\" class=\"alignright size-medium wp-image-1004121034\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg\" alt=\"Cherry Creek\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg 1467w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg?resize=1024,683 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a> <\/em><\/p>\n<p>In the latest sale following Harbor Group International\u2019s purchase three years ago of four Nashville apartment complexes, an HGI affiliate has sold the 627-unit Cherry Creek apartment community there for $86.5 million, HGI announced Wednesday. The buyer was not disclosed.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/southeast\/harbor-group-spends-131m-on-four-property-multi-family-portfolio-in-nashville\/1004045554.html\">HGI had acquired the 1,593-unit portfolio<\/a> in August 2012 for $130.5 million; the individual purchase price for Cherry Creek was $64.4 million. The company invested approximately $2.8 million in Cherry Creek during its ownership, an HGI spokesperson told <em>Commercial Property Executive<\/em>.<\/p>\n<p>In February 2012, HGI sold the 260-unit Preakness apartment community, and in August 2013 it sold the 360-unit Cambridge at Hickory Hollow Apartments. An HGI affiliate still owns the one remaining property from that portfolio, the 346-unit Arbors of Brentwood.<\/p>\n<p>\u201cCherry Creek performed well, with occupancy consistently above 95 percent and sustained rent growth throughout our three years of ownership,\u201d HGI president T. Richard Litton said in a release.<\/p>\n<p>Built in phases from 1985 to 1999, Cherry Creek consists of 26 residential buildings with an average unit size of 1,010 square feet. Amenities include a clubhouse with business center, three swimming pools, two lighted tennis courts, an indoor racquetball court, sand volleyball court, laundry facility, tanning booth, car care center, picnic area and resident walking trail.<\/p>\n<p>Litton\u2019s comment that the Nashville market \u201ccontinues to generate strong rent growth and significant investor demand\u201d is backed up by a recent report from Marcus &amp; Millichap.<\/p>\n<p>Nashville has benefitted from five straight years of at least 3 percent annual job growth, according to the M&amp;M report, and even with more than 4,000 apartment units a year being delivered, strong absorption has held the overall vacancy below 5 percent.<\/p>\n<p>Effective rents are predicted to rise 4.6 percent this year, following a 5.9 percent jump in 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three years after purchase, Harbor Group International has traded a property in Music City.<\/p>\n","protected":false},"author":882,"featured_media":1004121034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21742],"tags":[],"class_list":["post-1004121032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Harbor\u2019s Latest Flip in Nashville - 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\/harbors-latest-flip-in-nashville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harbor\u2019s Latest Flip in Nashville\" \/>\n<meta property=\"og:description\" content=\"Three years after purchase, Harbor Group International has traded a property in Music City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/\" \/>\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=\"2015-06-11T14:06:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:17:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1467\" \/>\n\t<meta property=\"og:image:height\" content=\"978\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\\\/harbors-latest-flip-in-nashville\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Harbor\u2019s Latest Flip in Nashville\",\"datePublished\":\"2015-06-11T14:06:58+00:00\",\"dateModified\":\"2022-12-09T02:17:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Cherry-Creek.jpg\",\"articleSection\":[\"Featured\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/\",\"name\":\"Harbor\u2019s Latest Flip in Nashville - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Cherry-Creek.jpg\",\"datePublished\":\"2015-06-11T14:06:58+00:00\",\"dateModified\":\"2022-12-09T02:17:34+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Cherry-Creek.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Cherry-Creek.jpg\",\"width\":1467,\"height\":978},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/harbors-latest-flip-in-nashville\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Harbor\u2019s Latest Flip in Nashville\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/scott-baltic\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Harbor\u2019s Latest Flip in Nashville - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/","og_locale":"en_US","og_type":"article","og_title":"Harbor\u2019s Latest Flip in Nashville","og_description":"Three years after purchase, Harbor Group International has traded a property in Music City.","og_url":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-06-11T14:06:58+00:00","article_modified_time":"2022-12-09T02:17:34+00:00","og_image":[{"width":1467,"height":978,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/"},"author":{"name":"Scott Baltic","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"headline":"Harbor\u2019s Latest Flip in Nashville","datePublished":"2015-06-11T14:06:58+00:00","dateModified":"2022-12-09T02:17:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/"},"wordCount":290,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","articleSection":["Featured","Investment","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/","url":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/","name":"Harbor\u2019s Latest Flip in Nashville - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","datePublished":"2015-06-11T14:06:58+00:00","dateModified":"2022-12-09T02:17:34+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","width":1467,"height":978},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/harbors-latest-flip-in-nashville\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Harbor\u2019s Latest Flip in Nashville"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Cherry-Creek.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004121032"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121032\/revisions"}],"predecessor-version":[{"id":1004620992,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121032\/revisions\/1004620992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004121034"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004121032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004121032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004121032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}