Harbor Group International buys community in Boca Raton, Fla.
Harbor Group International has acquired The Heritage, a 248-unit, class A multifamily community in Boca Raton, Fla., for $81 million.
The Heritage consists of four mid-rise residential buildings located one mile west of Atlantic Ocean beaches. The property is near convenient transportation options, including Palmetto Park Road and I-95, providing access to the employment centers of West Palm Beach, Fort Lauderdale and Miami. The Heritage is also proximate to several shopping, recreation and entertainment options in the immediate area including Mizner Park and Town Center at Boca Raton Mall.
Additionally, The Heritage offers an expansive amenity set, including a resort-style pool and Jacuzzi, outdoor kitchen, 24-hour fitness center, dry sauna, movie theater and private detached garages. HGI will continue implementing the property’s value-add program instituted by the seller, which included upgrading a portion of the units with new appliances and fixtures.