Investors Management Group<\/a> acquired the 217-unit CityView property for $20 million.<\/p>\nThe property, which consists of 26 two-story residential buildings, was built in 1970 on an 11.8-acre lot and underwent an extensive $1.5 million renovation under prior ownership between 2010 and 2012. HGI acquired CityView in July 2013 for $12.8 million and completed another capital improvement program worth $1.5 million. Residents can choose from several different floor plans ranging from studio to three-bedroom apartment with up to two bathrooms, averaging 1,223 square feet per unit.<\/p>\n
On-site amenities include two outdoor swimming pools, a clubhouse, laundry facility, management and leasing office, 434 parking spaces, a fitness center, and maintenance office.<\/p>\n
The property was 96 percent occupied at the time of closing.<\/p>\n
Image source: Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"An affiliate of Harbor Group International has sold the apartment community with the largest units in West Palm Beach.<\/p>\n","protected":false},"author":35,"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":[1492,21742],"tags":[],"class_list":["post-1004124342","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"\n
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