Multifamily REIT dumps Charlotte apartments

The Town and Country Trust sold Forest Ridge Apartments in Charlotte, N.C.

The transaction was valued at $14.5 million.

The 330-unit community was built in 1988 and was originally acquired by the company in March 1998.

The buyer's identity was not disclosed.

The Town and Country Trust is a multifamily real estate investment trust that owns and operates apartment communities in the Mid-Atlantic and Florida.

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