Associated Estates Realty really must like Northwood Ravin's new Central Perimeter apartment complex because the group has been under agreement for more than a year to buy it. According to AER's latest SEC filing, the group is now expected to close on 1160 Hammond, the 345-unit Class-A apartment complex at Hammond and Peachtree-Dunwoody roads by this quarter for $80.3M. AER's John Shannon blamed “construction delays” for the delay in purchasing 1160 Hammond during a recent investor conference call. We first reported here in 2013 that Northwood Ravin agreed to sell the property just as construction began.
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