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.
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