(Read more on the multifamily market.)
MURFREESBORO, TN-Radnor, PA-based DeSanto Realty Group hasacquired the 20-building, 262-unit Cason Estates apartment complexat 1650 Cason Lane for $27 million. The seller was New YorkCity-based Tarragon Corp. The property, set on 19 acres, featuresone-, two- and three-bedroom units. Among amenities in the complexare a car wash facility and a 24-hour fitness center.
The occupancy level at the time of the sale was in the mid-90%range. "The Nashville market continues to demonstrate good growthand this property is one of the best properties in that market,"DeSanto director of acquisition and finance Michael Blank tellsGlobeSt.com.
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