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HOLLAND, OH-DeSanto Realty Group has purchased the Fox ChaseApartment Complex here for $21 million as part of atenant-in-common investment, and has another complex under contractin the same market. The 304-unit Fox Chase was purchased from T-RexInvestments, based in Florida.

The property was built in 1988, and totals more than 252,056 sfon about 20 acres. Even though Fox Chase is about 94% occupied,Gary DeSanto, CEO of his self-named company, says he got theproperty for almost $5 million less than the property's appraisedvalue. "We negotiated a good deal," DeSanto says. "We had arelationship with a broker in the area." The property includesamenities such as fitness and pool facilities and a clubhouse andbusiness center. Rents run from $565 per month for a one-bedroom,one-bath apartment, to $880 for a two-bedroom, two-bathapartment.