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Photo credit: Harbor Group International
Two Cobb County apartment complexes built before Ronald Reagan was president have traded to a Virginia investor. Avia Riverside and Avia East Cobb apartments sold to Harbor Group International for $58.2M, or more than $96k/unit. In turn, HGI plans to pump nearly $5M in both properties for capital improvements. Avia Riverside, built in 1969, has 396 units while Avia East Cobb, developed in 1973, adds another 200 units to the portfolio. Both properties are more than 95% occupied.
