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CitiApartments Goes to the Pawn Shop

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Troubled property manager CitiApartments is cutting loose some more properties to save its own hide— according to the SFBT the "Lembi real estate empire" is putting up 12 apartment buildings up for sale, for way below what they paid for them just a couple years ago, for a total of $43 million (they hope). This, after losing a total of 74 properties back to their lender(s). A little diet never hurt anyone. [SF Business Times, previously]