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At Multifamily.Today, our multifamily news updates include information about economic trends, major deals, property financing and other subjects of interest to apartment investors, developers, managers, and other players in the multifamily industry.
The 71-unit development will house individuals and two-person households earning between 30% and 70% of the area median income.
The company plans to deliver the 300-unit community in 2023.
FirstBank of Tennessee provided the buyer with $36.5 million in acquisition financing for the 216-unit property.