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February 26, 2004

S-J Management

S-J Management, a private Seattle company that is one of the more active buyers of large multifamily properties in Washington and Arizona, bought the 180-unit Mandarina Apartments in Phoenix for $15.5 million, or $85,972 per unit. This is the second time in seven months S-J has acquired an institutional quality multifamily property in Arizona, according to S-J CEO Michael J. Sauter. S-J plans to acquire the 185-unit Belaflora Apartments in East Phoenix in May. S-J forms and manages limited liability companies that directly own real estate purchased with funds of third-party investors. The company currently owns and manages approximately 3,000 apartment units.




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