HOME PROPERTIES BUYS TWO APT. COMPLEXES FOR $112.2M

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LEESBURG AND CENTREVILLE, VA. — Home Properties has acquired the 164-unit Hunter's Crossing, located in Leesburg, and the 504-unit Woodway at Trinity Centre, located in Centreville, for a total of $112.2 million. Hunter's Crossing was purchased for $16.2 million and is 98 percent leased. The company has renamed the property The Manor East and plans to invest $2.8 million in improvements, including enhanced curb appeal and upgraded kitchens and bathrooms. Woodway at Trinity Centre was acquired for $96 million and is 97.2 percent leased. The company has planned a $3.9 million renovation, including upgrading and renovating units and replacing kitchen cabinets and appliances.

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