MORRISVILLE, N.C. -- Harbor Group, LLC (“HGI”) announced today that affiliates of the company have sold the 200-unit Treybrooke Apartment community. The property is located in the town of Morrisville, which is part of the Raleigh-Durham Triangle region of North Carolina.
“Treybrooke is a prime example of a well-timed, properly executed,” said T. Richard Litton, Jr., President of Harbor Group International. “The combination of capital upgrades and improved apartment fundamentals allowed HGI to increase the property’s net operating income and provide value to our investors.”
Treybrooke was built in 1989 and features one, two and three bedroom floor plans with an average size of 1,140 square feet. Property amenities include a clubhouse/leasing office, swimming pool, two lighted tennis courts, fitness center, basketball court, playground, picnic area with grills and a DVD library/book exchange center. The community includes 120 garden style apartments and 80 townhomes with fully equipped kitchens, full-size washers and dryers in the units, separate dining room, open breakfast bar, private balcony or fenced patio and ceiling fans. Select units feature wood burning fireplace, exterior storage closet, walk-in closet, coat closet and built-in desk or bookshelves. First floor units have large, fully-fenced rear patios.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued at approximately $3.8 billion. HGI is headquartered in Norfolk, Virginia with offices in New York and Tel Aviv. The company’s real estate holdings include more than 9.5 million square feet of commercial properties and in excess of 24,500 apartment units. For additional information, please visit www.harborgroupint.com.