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ORANGE COUNTY BRIEFLY

Irvine Apartments Sells $50 Million in Stock

November 13, 1998|Daryl Strickland

Irvine Apartment Communities said Thursday it has sold $50 million in preferred stock to an undisclosed institutional investor. The Irvine-based real estate investment trust is using the funds to reduce its unsecured revolving debt of more than $100 million, said spokesman Arun Paul.

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