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Multifamily apartment community in Maryland sells for $131M

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Multifamily apartment community in Maryland sells for $131M

GMF Capital LLC acquired a stake in the 930-unit The Avanti multifamily apartment community in District Heights, Md., for $131 million from Suitland Park LLC, a joint venture between Dragone Realty Investments and PCCP LLC, REBusiness Online reported.

Dragone Realty maintained its ownership stake in the property. GMF Capital is a Zurich-based private alternative investment firm.