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Picking Up CitiApartments' Crumbs

The churn over at mega-landlord CitiApartments— they've lost dozens of properties to banks now— is turning out to be a gold mine for property owners who have wanted in on more of the market but have been shut out in recent years. According to the SFBT some 30 of the properties that CitiApartments once owned (and had to give up to their lenders) have now been sold at a discount of 25 to 40 percent of what they were bought for. And thus heralds the birth of the baby Citis... [SFBT, via SocketSite]