Trade Street Shells Out $81M For 2 Apartment Communities

Law360, New York (January 23, 2014, 5:22 PM EST) -- Trade Street Residential Inc. nabbed two new apartment communities in the Southeast for $81 million, bringing down the age of the real estate investment trust's core portfolio, according to a Wednesday statement.

The luxury apartment communities represent a total of 618 units in the Tennessee and North Carolina markets, where the population is increasing in step with job opportunities, Michael Baumann, CEO and chairman of Trade Street Residential, explained in a statement.

"These newly constructed apartment communities further reduce the average age of our portfolio and...
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