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Indigo Pointe Picks Up 518 Units from Jupiter

ATLANTA-The locally based multifamily developer/investor paid Chicago-based Jupiter Realty Corp. $11.45 million or an average $22,106 per unit for the 208-unit, townhouse Live Oak Plantation and the 310-unit Indigo Pointe Apartments, both in Savannah, GA, 200 miles southeast of Downtown Atlanta.

By Alex Finkelstein | Updated on June 15, 2001

ATLANTA-Locally based Indigo Pointe is growing its multifamily portfolio with the $11.45 million purchase of two Savannah, GA properties from Chicago-based Jupiter Realty Corp. Savannah is 200 miles southeast of Downtown Atlanta.

Indigo paid an average $22,106 per unit for the 15.6-acre, 208-unit Live Oak Plantation and the 23.8-acre, 310-unit Indigo Pointe Apartments.

Privately held Jupiter acquired the assets in 1999 as part of a 12-community, 1,902-unit, multifamily portfolio in South Carolina and Georgia from Lend Lease Real Estate Investments Inc., formerly Boston Financial Group. Jupiter paid $32 million or about $16,824 per unit.

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