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Rutgers apartment complex secures buyer

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Student housing operator McKinney Properties, in Pittsburgh, announced Tuesday it has acquired a 186-unit New Brunswick apartment complex leased by Rutgers University that includes street-level retail.

The company purchased Rockoff Hall, formerly owned by New Brunswick Development Corp., through a joint venture partnership with Texas-based private equity real estate firm Virtus Real Estate Capital. It secured a $44.1 million five-year mortgage from Investors Bank, in the Short Hills section of Millburn.

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