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Archstone Pays $220M for Bay Area Complex

REIT Acquires Jefferson at Bay Meadows in San Mateo, CA
By Nancy O'Barr
September 20, 2006 | 12:25 P.M.

Archstone-Smith purchased Jefferson at Bay Meadows at 1301 David St. in San Mateo, CA for $220.6 million, or about $382,600 per unit. The transaction marks Archstone's second retail/multifamily property acquisition in the Bay Area this month.

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