Multifamily REIT dumps Charlotte apartments

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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. *** What's your opinion? Send your Letter to the Editor to