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Crescent Closes $118M Purchase of The Palatine

Monument Sells 262-Unit Asset to Miami Developer Through Foreclosure Auction
By Laurie Forbes
March 26, 2010 | 6:50 P.M.

Miami-based condo developer Crescent Heights of America completed its $118 million acquisition of The Palatine, a 262-unit multifamily building in Arlington, VA. Washington, DC-based developer Monument Realty LLC and its lenders sold the property through a foreclosure auction for about $450,382 per unit.

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