REBusiness Online McDowell Properties has purchased the South Tryon Apartments in Charlotte, N.C., for $41.8 million, or $193,519/unit. MAA Communities, a Memphis, Tenn., apartment REIT, was the seller. Northmarq brokered the sale and arranged $24.8 million of acquisition financing for McDowell. The fixed-rate loan comes with a five-year term and amortizes on a 35-year schedule. […]

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