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.)

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.