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September 8, 2005
Gary English, CFO of Seattle-based Mastro Properties, reports the company sold nearly $49 million worth of properties in August and acquired almost $25.5 million. Among the larger sales was Willows 124A and B, a Redmond office, for nearly $27.4 million. Mastro sold 363 residential lots in Richmond, Calif. ($3.2 million) and 700 acres in Palm Springs, Calif., for residential and commercial development ($2.8 million). Among the acquisitions was the Athena Apartments on Seattle's Queen Anne Hill for $21 million and an apartment site at 85th and Greenwood in Seattle for $1.8 million. The company's year-to-date transactions top $215 million. That compares to $114 million during the same period in 2004.