MILLERSVILLE, MD—Boston-based Berkshire IncomeRealty has sold three apartment buildings in Maryland fora total of $90.3 million. The REIT made referenceto the sales in its recent earnings call. Namely, it reported thatsince October it has sold three properties,Yorktowne located in Millersville andCountry Place I and Country PlaceII, located in Burtonsville.

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In addition, a source tells GlobeSt.com that HarpersMill, another multifamily property Berkshire owned inMillersville, traded for approximately $25 million. The source saidQuest Management acquired Harpers Mill, 144-unit garden apartmentcommunity built in 1987 and Yorketowne, a 240-unit midrise built in1985, for a total of approximately $58 million.

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Berkshire Income has made seven other sales this year, most ofwhich were in Texas: Chisholm Place and Bear Creek, both located inDallas, Texas; Laurel Woods located in Austin, Texas; andBerkshires on Brompton located in Houston, Texas.

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It also sold Lakeridge and Bridgewater on the Lake located inHampton, VA, and The Reserves at Arboretum Place located in NewportNews, VA. The sales price for the seven properties totaled $161.2million, with the REIT recognizing proceeds of $84.1 million.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.