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July 7, 2005

S-J Management

Seattle-based S-J Management is negotiating with a party that wants to buy the Monterra Apartments for $23.9 million. That's $5.7 million more than an affiliate of S-J paid for the 258-unit Phoenix property eight months ago. The deal is expected to close in November, according to S-J CEO Michael J. Sauter. He says the proceeds will bring the overall return on invested capital for S-J's period of ownership of the Monterra to between 80 and 90 percent. S-J, a privately held real estate company, acquires, manages and sells mostly large multifamily properties. It owns 2,500 units in Washington and Arizona.




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