Koger Equity to sell $300 million in assets

BOCA RATON, Fla. — Koger Equity Inc. has agreed to sell select non-core assets to AREIF Realty Trust Inc., an affiliate of New York-based Apollo Real Estate Advisors LP. The sale includes 10 properties, including 75 suburban office buildings and one retail center that are located in San Antonio and Austin, Texas, Greensboro and Charlotte, N.C., Greenville, S.C., and Birmingham, Ala.

The transaction, which encompasses more than 3.9 million rentable square feet, is valued at more than $300 million. Koger has initiated a marketing period during which other bidders may submit competing offers to purchase the assets associated with this agreement.