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LEXINGTON, LOUISVILLE AND FRANKFORT, KY.; AND NASHVILLE, TENN. — Irvine, Calif.-based Steadfast Income REIT Inc. has recently acquired five apartment communities for an aggregate purchase price of approximately $115 million. The properties were acquired in five separate transactions and include multifamily complexes in Lexington, Louisville, Frankfort and Nashville as well as Austin, Texas.
- Steadfast purchased Forty57 in Lexington for $52.5 million. It was 88 percent occupied at the time of the transaction, and it was built in phases between 2008 and 2012.
- South Pointe at Valley Farms was acquired for $5.2 million in Louisville. It is a 26-acre site that includes 32 apartment units and a clubhouse community building.
- Riverford Crossing was purchased for $30 million in Frankfort. It was built in 2011 and has 300 one- and two-bedroom apartments and townhomes.
- Keystone Farms was acquired for an unlisted price. It is a 90-unit apartment community located near Nashville. It was built in 1998 and was fully occupied at the time of the transaction.