Roberts did not disclose the purchase price, the closing date orthe name of the seller in a prepared statement.


The transaction completes a Section 1031 tax-deferred exchangeusing cash proceeds from the sale in July of the 334-unit Crestmarkapartments in Douglasville, GA. The company disclosed then the saletotaled $25 million, or $75,850 per unit.


Completed in April, St. Andrews is 67% leased.


(Please see Atlanta page for related story.)

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