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Virginia investor acquires Scottsdale apartment complex

LuxeScottsdale.jpg
Posted at 8:22 AM, Jan 28, 2020

Harbor Group International has purchased Luxe Scottsdale, a 218-unit Valley apartment community, for $65.6 million.

HGI, based in Norflolk, Virginia, will contribute $418,000 to the property to modernize common area amenities, improve curb appeal, and add technology packages to the units.

“We look forward to expanding our Phoenix portfolio with a high-quality asset located in a desirable and growing submarket,” said Greg Heller, senior vice president of acquisitions at HGI, in a statement.

Sold by Irvine, California-based Passco Cos., the property was built in 2015.

Read more from the Phoenix Business Journal.