TALLAHASSEE, FL-Memphis-based Mid-America Apartment Communities Inc. has purchased Verandas at SouthWood, a gated apartment community consisting of 300 units on Capital Circle next to the Capital Circle Office Complex of the State of Florida. The property was purchased for an undisclosed price.
MAA purchased the apartment community through a joint venture with Mid-America Multifamily Fund II LLC. Verandas at SouthWood was constructed in 2003. The joint venture will take control of an existing loan on the property.For the full story, go to Memphis Business Journal.
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