BIRMINGHAM, AL-Colonial Properties Trust has purchased three apartment complexes for a total price of $93.5 million and sold six complexes for $105.8 million. The complexes bought by the company are situated in South Carolina, North Carolina and Texas and their average age is 3.7 years. The communities sold by the company are located in Texas, North Carolina and Georgia and their average age is 21.8 years.
The deals have increased the average rent and operating margins of the portfolio of Colonial Properties. For the full story, go to Birmingham Business Journal .
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