Harbor Group Sells Emerald Pointe Apts for $375M


A private investor acquired the 441-unit Emerald Pointe apartments at 111 73rd Ave. N in St. Petersburg, FL from Harbor Group Management Co. for $37.5 million, or about $85,000 per unit. "The acquisition puts new ownership in position to implement a value-add program that will considerably increase revenue over the first two years," says Frank Carriera, senior director at Marcus ' Millichap, which brokered the sale. The 325,966-square-foot multifamily...

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