TH Real Estate

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    Multifamily Management Inc. sold the 147-unit property in Mobile, Ala. The pet-friendly asset features amenities like a 24-hour fitness center and movie theater.

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    The metro is on the verge of an economic turnaround, largely due to its broad-based employment growth. This restoration is reflected in the local multifamily market’s improving fundamentals, as well.

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    The company purchased two communities—Cary Reserve at Weston and Willow Trail—for $66 million, with the aim of investing an additional $7 million for capital improvements.

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