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Hanover Co. affiliate sells Atlanta apartment asset for $117M

An affiliate of The Hanover Co. sold the Hanover East Paces Apartments in Atlanta for $117.1 million to Utah Property Management Associates, the Atlanta Business Chronicle reported, citing Fulton County property records.

The 375-unit property at 400 Pharr Road in the Buckhead residential district changed hands in an all-cash deal on Aug. 24, the report added, citing Databank Inc.