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AUSTIN, TX-As part of the plan to finish a stalled multifamily project just north of downtown, Archstone has formed a joint venture with Bluerock Real Estate LLC. Both Denver-based Archstone and Manhattan-based Bluerock are equity partners in the venture.

US Bank is providing debt financing for the construction and lease-up of the community, which Archstone acquired through a bankruptcy auction two months ago, according to Neil Brown, Archstone’s executive vice president of development for the Eastern US Archstone and two other firms attended the auction.

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