SAN FRANCISCO-Essex Property Trust has obtained two apartment projects totaling 463 units at Fifth and Folsom streets in the South of Market enclave in San Francisco for an undisclosed price. The Palo Alto-based REIT bought the projects, located at 900 Folsom St. and 260 Fifth St., from Avant Housing.
Both projects are scheduled to be completed in early 2014. Avant has been employed to manage the development of the projects. Moran & Company marketed the property on behalf of the seller. For the full story, go to San Francisco Business Times .
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