America First Apartment Investors Inc., a multifamily real estate investment trust, completed the acquisition of a four-property portfolio in North Carolina for $62.6 million.
The properties include an aggregate 1,052 units and include Morganton Place and the Village of Cliffdale, both located in Fayetteville, and Woodberry Apartments in Asheville. The portfolio acquisition also includes a third Fayetteville property, Cumberland Trace, which the company intends to sell, as previously announced.
America First Apartment Investors Inc. operates primarily in the Southeast and Midwest regions of the United States.
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