DALLAS-Affiliates of Harbor Group International, LLC (HGI) have sold the 228-unit Stone Ridge Apartment community in Dallas.
The property was acquired by HGI in December of 2006 and HGI invested nearly $1 million in property improvements following the acquisition.
“Stone Ridge represents HGI's first exit from the North Dallas market, a desirable market that has been quite successful for us,” said T. Richard Litton, president of HGI. “The combination of strong performance at the property level and a healthy investor appetite for apartment transactions in North Dallas allowed us to successfully exit this investment. HGI affiliates own four other properties in the area totaling 1,550 units.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
