HOUSTON - Following a close to three-year hold, Harbor Group International LLC has disposed of the 696-unit Fairfield Creek apartments for $34 million. The buyer was RB Associates.
Harbor Group acquired the Class B complex at 12510 S. Green Dr. in July 2010 for $27 million from a lender that had foreclosed on the asset. During its hold, Harbor Group invested approximately $1.52 million in property improvements.
Fairfield Creek was built in 1984 and consists of one-, two- and three-bedroom units averaging 781 sf per unit. The property is situated on 24.82 acres and is comprised of 52 buildings; 34 two-story buildings and 18 three-story buildings.
Read more at GlobeSt.com.
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