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IRVINE, CA-Steadfast REIT Investments LLC, an affiliate of locally based Steadfast Cos., has launched a $1.65 billion IPO for a nontraded REIT called Steadfast Income REIT Inc. that will focus primarily on acquiring and operating multifamily and industrial properties. These will include stabilized, income-producing and value-added properties, according to filings by the REIT and a news release issued on Tuesday.

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