Harbor Group International LLC based in Norfolk, Va., has acquired the BB&T Tower, an 18-story office building in downtown Jacksonville, Fla., from an affiliate of Acropolis Capital for $30.05 million. BB&T Tower, located at 200 West Forsyth Street in the center of the downtown Northbank market, is HGI's second acquisition in downtown Jacksonville. In 2004, HGI acquired the nearby One Enterprise Center, a 22-story, 348,852 sq. ft. Class-A office tower.
Campus Apartments has acquired new properties totaling more than $58 million. The acquisitions are located in Georgia and Virginia and include the Pierce-Arrow portfolio, a collection of 24 urban properties; Abbey West, a 564-bed student housing community; and Campus Crossings, a 600-bed luxury student housing community. The properties will serve Virginia Commonwealth University, University of Georgia, and Georgia Southern University.
Crow Holdings has acquired the Royal Centre portfolio for $97 million from Allianz Life Insurance Co. Located in Alpharetta, Ga., the portfolio consists of three Class-A office buildings totaling more than 620,000 sq. ft. The Royal Centre Two, Three and Four are each multi-story, multi-tenant office assets. The property is currently 93.3% leased. CB Richard Ellis has retained leasing and will manage the properties.
