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Azora fund acquires two more properties, spending $140m of its capital
Transactions - SEPTEMBER 20, 2022

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Azora fund acquires two more properties, spending $140m of its capital

by Andrea Zander

Azora, a Spanish real estate investment and asset management firm, has completed the purchase of two further properties on behalf of the ONE Azora Exan Multifamily Fund I, its U.S. multifamily fund, which closed in April.

The assets include The Edge at Lees Chapel, a 299-home multifamily community in Greensboro, North Carolina's third-largest city and part of the most important manufacturing and logistics distribution area in the southeastern United States; and the Midwood at Riverside, a 232-unit multifamily community in Atlanta, which is one of the top 10 U.S. metropolitan areas by population (c. 6.1 million inhabitants) and has had a growth rate of more than 77,000 inhabitants per year for the past 10 years.

"We are fully convinced of the potential of our strategy in the affordable rented residential market in the United States. It is a very stable and cyclically resilient segment, with very

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