Home Properties Grows Footprint With $113M Apt. Deals

Law360, New York (December 16, 2011, 7:50 PM EST) -- Home Properties Inc. has purchased suburban apartment buildings in the Chicago and Washington markets for a total of $113 million as part of a strategy to beef up its portfolio in areas where it already has a presence, the real estate investment trust announced Thursday.

The two apartment buildings picked up by Rochester, N.Y.-based REIT are The Gates of Deer Grove, a $20.2 million complex in Palatine, Ill., and the $92.75 million Courts at Dulles in Herndon, Va. Both purchases were paid for in cash....
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