ALEXANDRIA, VA-Home Properties Inc., based in Rochester, New York, has signed contracts to purchase an apartment community in Leesburg and a community in Alexandria. According to the Citybizlist.com report, Home Properties is spending $225.25 million on both properties.
Home Properties will buy Newport Village, a 37-unit community in Alexandria, for $205 million or about $219,000 per unit and Somerset Manor, a 108-unit complex in Leesburg, for $20.25 million or nearly $188,000 per unit. For the full story, go to Washington Business Journal .
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