UNIVERSITY OF MISSOURI PROPERTY SELLS

COLUMBIA, MO. — KAREP REIT II Inc. of Armonk, N.Y. has purchased Grindstone Canyon, a 384-bed apartment serving the University of Missouri. The property sold for a reported $15 million. Ken Aston, Andrea Kendrick and Kevin Larimer of Hendricks & Partners represented the seller, Grindstone Canyon Apartments, in the transaction.