Harbor Group & Benedict Realty Group acquire Florida apartment communities

Harbor Group International and Benedict Realty Group have acquired a portfolio of Florida apartment communities from Stoneweg for $94.25 million. The portfolio consists of ten properties, totaling 1,209 units in the Orlando, Jacksonville, Daytona Beach, and Pensacola markets.

• Portfolio breakdown: The transaction includes the following properties: Branchwood (Winter Park);  Wingwood (Orlando); Oak Shade (Orange City); Applewood (DeLand); Pelican Pointe  (Jacksonville); Stonewood (Jacksonville); Kings Crossing (Jacksonville); Nova Glen  (Daytona Beach); Nova Wood (Daytona Beach); and Broadview Oaks (Pensacola).  

• Heard on the Street: Benedict Realty Group’s Danny Benedict: “We are excited to significantly  expand our multifamily holdings outside of NYC to continue purchasing multifamily  properties in Florida, together with the talented team at Harbor Group International.” 

• Brokers: Newmark Group’s Senior Managing Director Ryan Moody and Directors John Rutherford and  Andrew Visnick represented the seller in the disposition.