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New York REIT buys north Charlotte development (access required)

A New York-based real estate investment trust has completed its acquisition of the second phase of development at a north Charlotte apartment complex. BlueRock Residential Growth REIT Inc. recently purchased 151 newly completed units at Ashton Reserve for $21.8 million, or $144,500 per apartment. That, the company says, compares favorably to pricing of $160,000 per unit ...

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