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BOSTON-The 465-unit Park Lane Seaport is being sold by the joint venture of owners Fallon Co. and Cornerstone Real Estate Advisers, LLC to JP Morgan Asset Management. The institutional investors are procuring the apartment property for $193.8 million. Simon Butler of Cushman & Wakefield, who represented the seller, tells GlobeSt.com that there was “very aggressive bidding” for the property. A source unaffiliated with the deal says the property traded at a 4.9 cap.


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