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BOCA RATON, FL-Gables Residential, a locally based developer,builder, owner and manager of luxury multifamily communities, hasacquired a company and reached a separate agreement with anotherentity--both of which will enable the company to expand into theremaining two markets where it wants to have a presence.

Through the two transactions, Gables will enter the San Diegoand Inland Empire (Riverside/San Bernardino) markets, as well asexpand in Washington, DC. "This is consistent with a strategy(Gables) laid down five years ago," says David Fitch, chiefinvestment officer of Gables Residential. The strategy was to beoperating in eight markets that are all in the top 12highest-job-growth markets, as identified by several economists. Inaddition, the eight are complementary markets that have lowvolatility, he says.