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ATLANTA-Robert Realty Investors Inc. has booked $3.5 million on the sale of a strategically located 9.5-acre tract near its Addison Place apartment community in suburban Alpharetta, GA, 30 miles north of Downtown Atlanta.

Centex Homes Inc. of Dallas, headed by chairman Lawrence Hirsch, paid an effective price of $3.5 million or $368,673 per acre ($8.46 per sf) for the East Fox Court site where it plans to develop 80 townhomes. A ground-breaking date hasn’t been set.

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