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Pension Board Sells 992 Units for $47M

CHICAGO-The State of Wisconsin Investment Board sells the 448-unit Willows of Coventry and 248-unit Pointe Inverness complexes in Fort Wayne, IN as well as the 296-unit Perrys Crossing in Toledo, OH to Norfolk, VA-based Harbor Group International.

By Mark Ruda | Updated on June 06, 2002

CHICAGO-Norfolk, VA-based Harbor Group International has made a $47.4 million investment in Fort Wayne, IN and Toledo, OH, buying nearly 1,000 multifamily units from the State of Wisconsin Investment Board for $47.4 million. The properties are considered class-A, institutional quality, according to Harbor Group International chairman and chief executive officer Jordan E. Slone, but the company plans $3 million in upgrades.

Harbor Group International adds the 448-unit Willows of Coventry and 248-unit Pointe Inverness complexes in Fort Wayne as well as the 296-unit Perrys Crossing in Toledo. The Fort Wayne properties are both garden-style complexes built in 1987, with a combined 46 buildings. Perrys Crossing is a 10-building complex built in 1991.

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