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Apartment Sold to Institutional Investor

DEDHAM, MA-Jefferson at Dedham Station, a 301-unit luxury apartment complex that was completed just months ago, has been sold to RREEF.

By Beverly Ford | Updated on December 11, 2006

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

DEDHAM, MA-Jefferson at Dedham Station, a 301-unit apartment complex here, has been sold by developers Crescent Real Estate Equities and JPI to RREEF North America for $76 million. The luxury apartment building was completed earlier this year.

Jefferson at Dedham Station, a transit-oriented property at 1000 Presidents Way, was completed between six and nine months ago and is currently 90% occupied, according to Thomas O’Brien, managing partner with JPI. Crescent, based in Fort Worth, TX and JPI, headquartered in Irving, TX, began building the project about two years ago. It was the JV’s only Boston area property.

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