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Gelt sells Santa Clarita, Calif., residential community for $63M

Gelt Inc. sold the 232-unit Monterra Ridge Apartments residential community in Santa Clarita, Calif., for $62.5 million.

BAG Investments Inc. bought the 16-building property at 28085 Whites Canyon Road.

Gelt said it paid $45.5 million in June 2016 to acquire the property.