, TX - Harbor Group International, LLC (“HGI”) announced today that affiliates of the company have sold the 528-unit Bella Vida Apartment community in Dallas, Texas for an undisclosed purchase price. HGI purchased the property in May 2007.
“We are pleased with our performance at the property,” said T. Richard Litton, Jr., President of Harbor Group International, “HGI was able to execute itsplan to perfection, using our proven management techniques and capitalizing on economies of scale due to our strong presence in the Dallas market, where we currently own more than 1,000 units.”
Bella Vida is a Class A+ apartment community locating in Carrollton, an affluent northern suburb of Dallas. Built in two phases in 1999 and 2001, the property is situated on 35.5 acres with an average size of 1,322 square feet. Amenities include a 14,000 square foot clubhouse, controlled access gates, 5 swimming pools, golf passes to the adjacent Coyote Ridge Golf Course, lighted tennis court, sand volleyball court, indoor and outdoor basketball court, playground, business center, billiards room, theater room, fitness center, sauna, tanning bed, on-site walking trail, and views of the adjacent Coyote Ridge Golf Course. Each dwelling unit includes a one or two car attached garage with remote, intrusion alarm and 9’ ceilings. Select units also feature vaulted ceilings, 6’ marble oversized Jacuzzi tubs, wood burning fireplaces, crown molding and designer countertops. The property is currently 97% occupied.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued in excess of $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 8.5 million square feet of commercial properties and in excess of 24,500 apartment units. For additional information, please visit www.harborgroupint.com.