MEMPHIS-MAA, a real estate investment trust based in Memphis, has purchased two multifamily properties in the Sunbelt region. The REIT has bought The River's Walk at Celebrate Virginia, an apartment community comprising 232 units in Fredericksburg, Virginia, and the Palisades at Chenal Valley, an apartment community consisting of 248 units in Little Rock, Arkansas, for $67.5 million.
River's Walk at Celebrate Virginia was constructed in 2011 and Palisades at Chenal Valley was constructed in 2006. For the full story, go to Memphis Business Journal .
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