Today’s Deals: Nevins Adams Lewbel Schell Buys 300-Unit Apartment Community for $32.5M, and Other Transactions
- Aug 11, 2008
By Anuradha Kher, Online News EditorTucson, Ariz.–Hendricks & Partners recently arranged the sale of Finisterra (pictured), located at 6795 East Calle La Paz in Tucson, Ariz., for $32,500,000.The 300-unit gated apartment community was built in 2005 and 2006. It is spread across approximately 15.59 acres and features 21 two-story, garden-style buildings. The property features one-, two- and three-bedroom units in five individual floor plans. Community amenities include a clubhouse with kitchen, computer room, heated swimming pool, spa, fitness center and barbeque areas.Finisterra Community I L.L.C. of Tucson sold the property to Nevins Adams Lewbel Schell (NALS) of Santa Barbara, Calif.Meridian Capital Group Arranges Over $13M in Financing For Four Multifamily PropertiesEvanston, Ill.–Meridian Capital Group recently arranged $4,600,000 in financing for a 49-unit multifamily building located at 617 Grove St. in Evanston, Ill. as well as three other multifamily loans for a single borrower for properties located in Chicago. A loan of $3,700,000 was placed on a building located at 7455 N. Greenview Ave., $3,000,000 in financing for 1357-67 W. Greenleaf Ave. and a $2,385,000 loan for a building located at 4130 N. Keystone Avenue.The 7455 N. Greenview Ave property features 92 units, the W. Greenleaf Avenue property consists of a total of 63 apartment units and the N. Keystone Avenue property offers 48 units. All three Chicago properties have undergone extensive interior renovations as well as exterior ones that have left their classic facades untouched.125-Unit Property Sells for $15.775MBloomfield, Conn.–Chozick Realty recently arranged the sale of the Manor House Apartments in Bloomfield, Conn., for $15,775,000. The Manor House Apartments is located on Revere Drive and Park Avenue and features 125 units constructed in 1972. The 11-building complex is built on 15.33 acres and offers 24 one-bedroom apartments and 101 two-bedroom apartments. An investment group led by J. Winkler, who has owned and managed the property since the 1970s, sold the property to Windsor Castle LLC.