Cawley and Braun of United Multi Family broker $2.95 million sale of Thompson Estates

Thompson Estates, LLC a division of Newman Properties recently acquired Thompson Estates, an apartment complex located at 14 Thompson Dr. for $2.95 million. Built in 1981, Thompson Estates is comprised of 24 units, all two bedrooms, eight of which have cathedral ceilings. The building was listed by Richard Cawley and Jason Braun of United Multi Family. Newman Props. assumed the existing financing with Arbor Commercial Funding LLC who was represented by John Kelly. Thompson Estates includes 1.23 acres and 48 parking spots. It was purchased by Newman Props. with a long term vision to hold the property as a rental.