Dominium, a Minneapolis-based apartment development and management company, has acquired La Posada Apartments and Cabo Del Sol Apartments in Tucson, Ariz.
La Posada and Cabo Del Sol both consist of 136 units and each were built in 1999. Dominium closed on the properties on January 11, 2016.
“These two projects are a great opportunity for Dominium to expand our Arizona portfolio,” said Mark Laverty, development associate for Dominium. “By making capital improvements, Cabo del Sol and La Posada will continue to operate successfully and provide housing for many years to come.”
Dominium will be performing a substantial rehabilitation of the properties’ clubhouses including new carpet and paint, new community room furniture, and fitness equipment. The clubhouse kitchens also will be entirely remodeled. Select units will receive new flooring and appliances. Exterior enhancements to the property include updated signage, minor landscaping, and new lighting.
