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Multi-Family Portfolio Acquisition

3/3/2008

Acquired a portfolio of 86 apartment properties totaling over 25,000 units on March 3rd. The well-diversified portfolio includes largely “B grade” apartments in 12 states, with concentrations in Texas and North Carolina. The acquisition is being made in joint venture with Steven D. Bell and Company, with whom DRA has previously acquired 28 properties valued over $700 million.

 

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