In June, we reported that Bank of America listed Times Square at Craig Ranch in McKinney, Texas, with CBRE.
Yesterday, Mid-America Apartment Communities (NYSE: MAA) acquired the property for $31.25 million, or about $100,000 per unit.
The property was developed in 2009 by Evergreen Realty Partners. Reportedly, the property cost approximately $52 million to develop.
Mid-America has been on a recent buying spree:
It recently purchased a pair of properties for $65.6 million. In early August, Mid-America purchased The Hue, a 208-unit apartment community in downtown Raleigh, N.C., for $33.6 million. A few days later, the company announced it had purchased Verandas at Sam Ridley, a 336-unit apartment community in Smyrna, Tenn., for $32 million.
