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January 24, 2013

Vitus Group

Seattle-based Vitus Group bought a 200-unit apartment building in Santa Ana, Calif., that it plans to redevelop and preserve as low-income housing. Flower Terrace will receive a $5 million renovation. Rent for 140 units will be capped at no more than 30 percent of tenants' income. Vitus specializes in affordable housing. Since 1996, it has developed or acquired more than 6,000 units of tax credit-financed low-income housing in 14 states.




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