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TUCSON-A $23.5-million interim loan has helped a Denver-basedinvestment group take on the 238-unit Bear Canyon Apartments. Theclass A property, once slated for condo conversion, will bemaintained as a rental and stabilized.
A developer from Omaha had bought Bear Canyon Apartments in 2004as a condo conversion property. When the market bottomed out, noneof the condos at 9055 E. Catalina Highway had been sold.
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