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Monday Properties, 13th Floor Investments and RSN Property Group have purchased The Summit on 401, a 291-unit apartment community in Fayetteville, N.C. One Real Estate Investment sold the asset for an undisclosed amount, according to Yardi Matrix information.

The acquisition marks Monday Properties’ entry into the North Carolina multifamily market, as well as 13th Floor’s second purchase in the state this year. The latter also bought The Belmont in February, a 312-unit residential property near Duke University, in Durham.