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Article: Apartment Investment And Management Company Announces Completion Of Acquisition of 17,383 Units From Casden Properties of Los Angeles.
- Article from:
- PR Newswire
- Article date:
- March 11, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. 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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DENVER -- Apartment Investment and Management Company ("Aimco") and Casden Properties ("Casden") announced the completion of the purchase by Aimco of 100% ownership of 17,383 apartment units and other transactions. The $1.5 billion acquisition is comprised of:
-- 6,356 conventional apartment units located in Southern California of
which 1,381 units, located in the Park La Brea area of Los Angeles, are
under development;
-- 11,027 affordable apartment units (located in 25 states); and
-- National Partnership Investments Corporation ("NAPICO"), a subsidiary
of Casden Properties, which as general partner controls more than
400 properties ...