Lane JV Makes First Buy With $27M Deal

CHARLOTTE, NC-The deal is part of a $150-million joint venture focusing on multifamily properties across the Southeast. The purchase also gives the Lane Cos. its first holding in the area.

By Melissa Kress | January 24, 2007 at 09:16 AM

(To read more on the multifamily market, click here.)

CHARLOTTE, NC-In a $27-million transaction, Alexander PlaceApartments moves to the Lane Co.'s portfolio, marking its firstmultifamily acquisition here. The Atlanta-based company managesnearly 3,000 units in the metropolitan area.

The 309-unit community is also the first purchase through Lane's$150-million joint venture with a client advised by Morgan StanleyReal Estate, according to company officials. The JV is targetingmultifamily acquisitions, development and condominium conversionsacross the Southeast.

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