University signs agreement to sell Westmoreland Apartments
The purchase price was $18.45 million and will net the university $18 million after accounting for buyer credit at closing.
O’Connell has agreed to allow current Westmoreland tenants to remain, if the tenants desire. Current tenants will be offered new lease agreements that will allow them to continue to remain at Westmoreland through June 2007. The property will be managed by Bell Real Estate.
This story is currently developing. Check the News Meeting blog soon for more details.
