HGI Buys Virginia Beach Property for $86 Million

VIRGINIA BEACH, VA. — Affiliates of Harbor Group International (HGI) have acquired Reflections at Virginia Beach for $86 million. The 480-unit garden-style property was built in 1986 and spans 19 two- and three-story buildings across 30 acres. Units are offered as one- and two-bedroom floor plans. The seller was not disclosed. A $7 million renovation was recently completed at Reflections at Virginia Beach, updating amenities including a clubhouse, an outdoor pool, a 24-hour fitness center, a business center with meeting rooms and outdoor grilling stations. HGI is headquartered in Norfolk, Virginia.