CRE p Tennessee

Steadfast Income REIT buys five apartment communities -- including in Kentucky and Tennessee -- to close out 2012

Steadfast Income REIT recently acquired five apartment communities for a total purchase price of about $115 million in the final days of 2012. Included in this purchase were properties in Louisville and Frankfort, Ken.; Nashville; and Austin, Texas.

Steadfast Income REIT recently acquired five apartment communities for a total purchase price of about $115 million in the final days of 2012. Included in this purchase were properties in Louisville and Frankfort, Ken.; Nashville; and Austin, Texas.

"Our December acquisitions capped a banner year for the company," said Ella Neyland, president of Steadfast.

In 2011, the company added 22 properties with more than 5,400 apartment homes for $500 million.

Steadfast near the end of last year purchased Forty57 in Lexington for $52.5 million, South Pointe at Valley Farms in Louisville for $5.275 million, Keystone Farms in Nashville for $8 million and Riverford Crossing in Frankfort for $30 million.