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MULTIFAMILY DEALS

Dallas-Ft. Worth
MULTIFAMILY DEALS
The Stayton at Museum Way
The Stayton at Museum Way topped out last month and is scheduled for a late 2011 opening. With more than 80% of the unitsreserved, the 11-story multifamily project is one of the tallest buildings along South 7th Street and one of the taller retirementcommunities in the nation, according to the developer, Senior Quality Lifestyles Corp. The three-building community will feature188 independent-living residences as well as on-site assisted-living, memory-support, and private-skilled nursing for life-care residents.

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Rancho Buckner purchased a 240-unit apartment complex at 4748 Saint Francis Ave in Dallas from Triumph Land & Capital Management. CB Richard Ellis’ Dirk Goris and Chris Deuilletnegotiated the sale on behalf of the seller.

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AREA Property Partners acquired the Giovanna Apartment Homes, a 730-unit multifamily rental property at 1800 East Spring Pkwy in Plano for $54.5M. The seller was not disclosed. “The acquisition of the Giovanna continues AREA’s strategy of investing in properties and markets with strong growth potential and excellent demographics,” says AREA partner John Jacobsson.