Home Properties Gets $109M For Md., NY Properties

Law360, Los Angeles (April 9, 2013, 3:43 PM EDT) -- Real estate investment trust Home Properties Inc. said Tuesday that it sold two multi-unit apartment properties in Maryland and New York last month for $109 million.

The Silver Spring, Md., and Sayville, N.Y., properties contain a combined 511 units, Rochester, N.Y.-based Home Properties said in a statement. The company will use earnings from the sales to pay off its secured debt, buy property and pay for property upgrades and development costs, it said in the statement.

Real estate investor and developer The JBG Companies paid $98...
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