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June 19, 2012

Ocean Properties buys Bar Harbor apartments

Portsmouth, N.H.-based hotel firm Ocean Properties has purchased a Bar Harbor subsidized housing complex to use as employee housing, and has asked current tenants to relocate. Ocean Properties owns several hotels in Bar Harbor.

Residents at Acadia Apartments told the Bangor Daily News that Ocean Properties representatives have told them to move out, but the company has not responded to requests for additional information. The complex is made up of four buildings with four apartments in each, but not all apartments are rented. A letter sent to tenants named the complex's new owner as BHAPTS LLC, and listed Ocean Properties' phone number and mailing address. It's unclear when tenants will need to relocate.

Ocean Properties owns the Harborside Hotel and Marina, the Bar Harbor Regency Hotel, the Park Entrance Motel, Days Inn and Ledgelawn Inn, all in Bar Harbor. Construction of its West Street Hotel is nearly complete. It also owns a downtown pier, Stewman's, which houses restaurants, as well as commercial building Harbor Place, which has several businesses. The assessed value of Ocean Properties' local land holdings is nearly $80 million, the paper reported.

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