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FREDERICKSBURG, VA. — The Milestone Group has acquired two apartment communities in Fredericksburg totaling 676 units. The communities include Kensington Crossing (476 units) and Magnolia Falls (200 units). The seller and sales price were not disclosed.
Milestone assumed the existing loans for both communities and plans to upgrade common areas and amenities. The previous owner fully renovated the interiors at both Kensington Crossing and Magnolia Falls.