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TUSTIN, CA-Apartment REIT AvalonBay Communities Inc. paid $98.5 million in its recent acquisition of the 628-unit Creekside Meadows apartment complex via a fund in which the REIT has a 31% equity interest. The Arlington, VA-based REIT’s purchase of the Creekside Meadows, reported previously on GlobeSt.com, was made through AvalonBay Value Added Fund II LP, a private, discretionary investment vehicle.

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