Florida apartments sold to developer

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Roberts Realty Investors sold its 200-unit St. Andrews at the Polo Club apartment community located in Wellington, Fla. The value of the transaction was $36 million. Wellington Development L.C. purchased the property. The company acquired the St. Andrews community in November 2001 as part of a Section 1031 tax-deferred exchange from the sale of the company's Crestmark apartment community located in Douglasville, Ga. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....