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Commercial Real Estate Direct Staff Report FPA Multifamily LLC has paid $121 million, or $174,603/unit, for a portfolio of four apartment properties with a total of 693 units in Connecticut. The San Francisco investment manager purchased the portfolio from Sun ...
the Chicago REIT sold the 120-unit Meadow Ridge and the 92-unit Cambridge Estates. CB Richard Ellis lined up $14 million of financing for the buyer.
Hersha funded the acquisition by assuming $8.2 million of debt on the property and issuing $7.9 million of operating partnership units.
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