AUSTIN, TX-Birmingham, Alabama-based Colonial Properties Trust has purchased two apartment communities in North Carolina and Texas for about $52 million. The company has acquired Verde Oak Park, a 336-unit apartment community known as Colonial Grand at Wells Branch in Austin, for an amount of $28.4 million.
The REIT has also purchased Carrington Park, a 236-unit apartment community known as Colonial Grand at Cornelius in Charlotte, North Carolina, for an amount of $23.4 million.For the full story, go to Austin Business Journal.
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