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Standard Communities has purchased Laurel Hill Apartments, a 100-unit, fully affordable community in Shelby, N.C. Capitalization amounted to $16.4 million. According to Yardi Matrix data, the seller was Darby Development. Financing included a $2 million Fannie Mae loan originated by Regions Bank and $9.3 million in tax-exempt bonds issued by the City of Shelby with Regions Bank as trustee, Yardi Matrix also shows. The latter bears a 4.25 percent fixed rate with maturity set for 2040.