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The acquisition is being made through Ares U.S. Real Estate Fund IX LP, and involves properties in Tennessee, Texas, Georgia and North and South Carolina.
Founded in 2016, ArborCrowd pursues multifamily workforce housing investments across the U.S., with purchase prices ranging from $25 million to $80 million.
The median price of an existing single-family house, at $276,900, was much higher in June 2018 than it was the year before, according to the National Association of Realtors.
