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CNL Growth JV to offload Md. multifamily community for $66M

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CNL Growth JV to offload Md. multifamily community for $66M

A CNL Growth Properties Inc. joint venture agreed to sell the 248-unit Oxford Square multifamily community in Hanover, Md., to the Howard County Housing Commission.

The roughly $65.7 million transaction is expected to close on or around Feb. 28.

WF Oxford Square LLC and an affiliate of CNL Growth Properties formed the joint venture in March 2014 to develop the residential community.