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CHARLESTON, SC-Greystar Real Estate Partners, headquartered here, has closed on a $460-million acquisition of 14 apartment communities, located mainly in Texas. The deal effectively gets the seller, Inland American Real Estate Trust, out of the multifamily business, although the REIT remains active in student housing.

The transaction, which occurred within two Greystar-sponsored investment vehicles, was structured as a two-staged close with the second closing occurring on August 28. It values the properties at approximately $105,000 per unit.

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