VIRGINIA BEACH AND WILLIAMSBURG, VA. — An affiliate of Harbor Group International has purchased Mariner’s Cove Apartments and Steeplechase Apartments from an affiliate of AIMCO for $69.2 million. The 458-unit Mariner’s Cove, located in Virginia Beach, is 95 percent occupied. Harbor Group will invest $2.3 million in the 38-year-old apartment, which was renovated in 2002. Located in Williamsburg, the 220-unit Steeplechase was built in 1986 and renovated in 2006. Harbor Group will invest $1.3 million in the property for renovations. Steeplechase is 98 percent occupied. Dan Johnson, Hank Hankins and Sean Cunningham of CB Richard Ellis brokered the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties