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Pure Multi-Family REIT signs US$34M deal to off-load Texas apartment property

PureMulti-Family REIT LP agreed to divest its property in Plano, Texas, for gross proceeds of US$34.3 million.

The deal is set to close at the end of October and thecompany plans to reinvest the net proceeds into another high-quality asset inthe near future.

The property, acquired by the company for US$25.5 million in August 2013,sits on 11.8 acres and contains 180 residential units.