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FORT WORTH-In a $21.3-million deal, a New York City-basedinvestment firm has acquired its second multifamily property inNorth Texas. And, it's under contract to close on a third one thisweek.

Abacus Capital Group LLC has brought in long-time partner,Colonial Properties Trust of Birmingham, AL as operator andminority partner in the deal as it did last fall when it put directdeals into motion to acquire two class A complexes in North FortWorth from Stockton, CA-based A.G. Spanos Cos., according toBenjamin Friedman, Abacus' president. The newest deed is the240-unit Fairmont at Fossil Creek Apartments at 3701 Fossil CreekBlvd., situated about 2.3 miles south of Abacus' first buy, the288-unit Belterra Apartments at 7001 Sandshell Blvd. Before thisweek ends, Abacus will close on a 214-unit, class A property inAllen.