National Property REIT announced the sale of Crown Point Apartments, a multifamily property in Danbury, Connecticut, for $151.75M, achieving a 19.1% internal rate of return and a 2.6x cash-on-cash multiple on the investment. Since inception, NPRC cumulatively has invested in 110 real estate properties, including 83 multifamily residential apartment properties, 12 self-storage properties, 8 student housing properties, 4 senior living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet.
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