Grubb & Ellis Apartment REIT, Inc., a unit of Grubb & Ellis Co. (GBE), announced that it has entered into a letter of intent or LOI to acquire Bella Ruscello Luxury Apartment Homes, a 216-unit multifamily community located in the Dallas suburb of Duncanville, Texas. The acquisition is subject to the conclusion of an appropriate due diligence review, customary closing conditions and the satisfaction of other requirements as detailed in the letter of intent.
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