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A 324-unit apartment complex in Ann Arbor has sold for $23 million. Signature Villas, built in 1990, is composed of mostly two-bedroom units. The average price per unit was $71,450.

The seller was Signature Villa Associates LTD. Leo Tosto, managing partner and director at the Bingham Farms office of Colliers International, is one of Signature Villa’s general partners. He developed and managed the buildings. The complex was 95 percent occupied at the time of the transaction.

The purchaser was not disclosed.

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