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LANTOWER RESIDENTIAL REAL ESTATE DEVELOPMENT TRUST (NO 1) RAISES US$52 MILLION MAXIMUM SIZE INITIAL PUBLIC OFFERING AND ACQUIRES INTEREST IN THE DEVELOPMENT OF TWO PROJECTS IN FLORIDA

Lantower Residential Real Estate Development Trust (No. 1) (the "REDT") announced today that it has raised its maximum offering size of US$52 million and completed its initial public offering (the "Offering"). Pursuant to the Offering, the Trust.

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