(Read more on the multifamily market.)
TUCSON-A little more than a year after buying the La ReserveVillas, a Canadian condominium converter has put the 240-unitcomplex under contract to Seattle-based S-J Management LLC. The$28.65-million off-market deal is slated to close soon.
Vancouver-based 20/20 Properties had acquired La Reserve at10700 N. La Reserve Dr. and the 320-unit Centrepointe at 3220 W.Ina Rd. in January 2006 with plans to convert them intocondominiums. However, a slowing market led to other plans.
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