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BURBANK, CA-Locally based Cusumano Real Estate Group has acquired the 145-unit Jefferson at Toluca Lake apartment complex on an all-cash basis from developer JPI of Irving, TX in a lender-facilitated short sale. The sales price was undisclosed, but the property was marketed at an asking price of $31 million, with Dean Zander and Vince Norris of Hendricks & Partners as the listing agents.


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