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IPA Acquires San Melia Apts. for $47.8M

TIAA-CREF Sells Luxury Apartment Community
By David Whitmore
November 3, 2009 | 9:59 P.M.

Investment Property Associates (IPA) purchased the San Melia Apartments in Phoenix from TIAA-CREF for $47.82 million, or $98,000 per unit.

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