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Pure Multi-Family REIT Sells Dallas Apartment Complex


Vancouver-based Pure Multi-Family REIT has reached a deal to sell Windsong Apartments in Dallas for $22M. Windsong, built in 1985 and acquired by Pure Multi in July 2013 for $16.5M, comprises 264 residential units on a 10-acre site. CEO Steve Evans says the profitable sale has allowed them to "capture the value we have created." He added his firm intends to reinvest the proceeds into a “newer, higher-quality asset.”