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Source: Stafford Multifamily Trades for $68M

STAFFORD, VA—A source tells GlobeSt.com that Aventine at Courthouse Square here has traded for $67.9 million, or $173,974 per unit.

By Erika Morphy | Updated on April 20, 2014

STAFFORD, VA—A source tells us that a 390-unit apartment building here, developed in 2005, has traded for $67.9 million, or $173,974 per unit. The buyer of the property-Aventine at Courthouse Square-which is located at 26 Davenport Dr., is reportedly Optio, Inc., a Chicago-based company formed in 2011 to provide private sector housing to the armed forces. The seller is Irving, Texas-based Archon Group, a wholly-owned subsidiary of The Goldman Sachs Group. CBRE brokered the deal and CBRE Global Lenders provided financing, we were told.

The garden-style community property is 92% occupied, according to records. It previously traded in 2006 for $71.6 million.

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