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Article: HOME PROPERTIES MOVES OUT.(Real Estate)
- Article from:
- The Post-Standard (Syracuse, NY)
- Article date:
- October 8, 2006
CopyrightCOPYRIGHT 2006 All rights reserved. Reproduced with the permission of The Herald Co. by the Gale Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: TIM KNAUSS REAL ESTATE NOTEBOOK
A real estate trust that got its start in Upstate New York is leaving this market, saying it prefers cities with more robust economies.
Home Properties Inc., of Rochester, announced last week that it is selling all 18 of its apartment communities in Upstate New York, including four complexes in the Syracuse area and one in Ithaca. The others are in Rochester and Buffalo.
The buyer and the purchase price will not be disclosed until the deal closes, most likely around the end of the year, said David Gardner , executive vice president. The buyer, a team of three regional real estate owners and developers, has paid a $6 ...