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LOVELAND, OH-Inland American Real Estate Trust Inc. has purchased the 394-unit Nantucket Apartment complex here for $35 million. The six-year-old property doesn’t pull punches on amenities, with attached garages, fitness and community center, pool, putting green, movie theater and even a stocked fishing lake.

Lou Quilici, SVP with Inland Real Estate Acquisitions Inc., handled the transaction for the REIT. He tells GlobeSt.com that the 28-acre site is the best in the affluent area, just a few miles from Cincinnati. “Household income around here runs from $87,000 per year to more than $105,000 per year, with employers such as Proctor and Gamble, and various hospitals. There are eight apartment properties in the immediate area, but none of them offered what this property has. There are nearby condos that are selling for $250,000, and our units are bigger.”

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