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Harbor Group Sells Two Apartment Communities in South Florida for $105.6M

Serramar in Fort Lauderdale was built in 1986 and contains 302 units. Amenities include a clubhouse, two swimming pools, fitness center, sports court, cyber café, playground and a car care center.

WEST PALM BEACH AND FORT LAUDERDALE, FLA. — Affiliates of Harbor Group International (HGI) have sold Turtle Cove Apartments in West Palm Beach and Serramar in Fort Lauderdale for a combined sales price of $105.6 million. HGI purchased both assets in June 2012 for a combined $67.8 million. Turtle Cove was built in 1986 and contains 444 units. Amenities include a clubhouse, swimming pool, fitness center, sports courts, gazebo/picnic area and a car care center. The property is currently 95 percent occupied. Serramar was also built in 1986 and contains 302 units. Amenities include a clubhouse, two swimming pools, fitness center, sports court, cyber café, playground and a car care center. The property is currently 96 percent occupied.

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