Midwest multifamily sale tops $60M

Deal includes nearly 2 dozen acres of vacant land

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A large apartment complex in Indianapolis has recently sold to an out-of-state investor for more than $61 million. Norfolk, Va.-based Harbor Group International purchased the 740-unit Lakeshore Apartments from an unidentified seller. Harbor Group International, or HGI, plans to invest additional capital into the property, but has no immediate plans to develop the additional 22.8 acres of undeveloped land included in the sale. ...