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LIVERMORE, CA-Laguna Niguel, Calif.-based real estate investment and development company, Raintree Partners, has completed the acquisition of Meadowbrook Apartments, a 125-unit multifamily property here for $16.7 million. This is Raintree’s eighth multifamily property acquisition in 2010, bringing the firms holdings in the California market to 10 multifamily communities.

According to Jeff Allen, CEO of Raintree Partners. “Meadowbrook Apartments is located in a very desirable, supply constrained community within the job-rich Tri-Valley Region of the Bay area.” These factors, he says, have enabled the property to maintain a high occupancy rate and consistent rental income despite the current economy, “making it an attractive long-term investment for Raintree.”

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