- The company has agreed to the purchase of the 533-unit luxury Pacific Ridge Apartments for about $232M.
- The community was completed in 2013 and is currently 97% leased.
- Funding will come from cash on hand and a draw on the American Asset (NYSE:AAT) credit line.
- It's being structured to be the buying end of a 1031 tax deferred exchange.
American Assets Trust buying San Diego apartments
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Symbol | Last Price | % Chg |
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American Assets Trust, Inc. |