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Home Properties Adds to Portfolio With $83M Buy

MARLBOROUGH, MA-Home Properties, hot on the Bay State apartment market, acquires two Marlborough apartment complexes just two months after closing on two apartment communities in Randolph.

By Beverly Ford | Updated on September 13, 2006

(To read more on the multifamily market, click here.)

MARLBOROUGH, MA-Just two months after plunking down $32.6 million to acquire two apartment complexes in Randolph, Home Properties Inc. has increased its presence in the state with the $83-million acquisition of two residential communities here.

The Rochester, NY REIT is so hot on Boston’s suburban apartment market, in fact, that it has grown its Bay State portfolio to seven properties since entering the market just four years ago. The REIT’s latest acquisitions added 612 units to the firm’s Bay State holdings, bringing the total number of units owned in the Boston suburbs to 2,143.

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