Joint Venture Pays $17M for Rumble Road Apartments in Modesto California

Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced that its LA North/Ventura office has brokered the acquisition of Rumble Road Apartments, a newly constructed 50-unit multifamily community located at 2531 West Rumble Road in Modesto, California to Aspen Real Estate Financial LLC (AREF) in partnership with Stanislaus Regional Housing Authority and CalAHA for $17 million ($340,000 per unit).

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