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Stock Market & Financial Investment News

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February 28, 2014
13:20 EDTHMEHome Properties sells apartment property for $110M
Home Properties announced the February 26 sale of Cider Mill, a property containing 864 apartment units located in Montgomery Village, Md., for $110M, or approximately $127,000 per unit. Net proceeds to Home Properties, after closing costs and $58.5M in secured debt repayment, were $47.5M. A gain of approximately $31M will be recorded in the 2014 first quarter.
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