Exponential Property Group

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    Tower 16 Capital Partners and Henley USA purchased a 540-unit multifamily project that Tower 16 will spend $7 million to upgrade.

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    American Landmark and Electra America have acquired Haven at Liberty Hills, a 246-unit community in the metro’s eastern area.

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    The multifamily sector had a 20.1x last 12 months funds from operations multiple as of Aug. 31, outperforming the broader US REIT index and six other REIT sectors.

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    A healthy economic climate and ongoing multifamily rent growth are drawing more investors to the metro, where the sales volume rose to nearly $1.4 billion in 2017.

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