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Florida Community Sells for $92M

American Landmark Apartments has acquired Alister Boca Raton, a 448-unit community located in Boca Raton, Fla. A joint venture between Mill Creek Residential and AIG sold the property for $91.5 million. The new owner is set to invest $6.2 million in capital improvements and will rename the property Cielo Boca. The six-building community was approximately 95 percent occupied at the time of sale.

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