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BOSTON-Berkshire Income Realty Inc. purchased eight multifamily apartment communities from two unrelated third parties. Four are in Virginia, two are in Maryland and another two are in Illinois.

The Virginia multifamily apartment communities range in size from 153 to 216 units. The purchase price for these properties is $43 million with the three located in Newport News costing, respectively, $9 million, $10.5 million and $4 million. The fourth community in Hampton cost $19 million. The closings on the four properties are expected to occur in October and November 2004.

Separately, Berkshire Income, through a to-be-formed joint venture with an affiliate of Equity Resource Investments LLC, an unrelated third party, will acquire 100% of the outstanding general and limited partner interests in four limited partnerships from Capital Realty Investors-II Limited Partnership via four separate purchase-and-sale agreements.

The partnership owns two multifamily apartment communities each in Illinois and in Maryland that range in size from 120 to 216 units. The purchase price of $14.5 million is comprised of $8 million and $5 million, respectively, for the two properties in Burtonsville, MD. It also includes $1.3 million for the community in Palatine, IL and $416,455 for the community in Roselle, IL. The closings will occur simultaneously and are expected to take place in December 2004.

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