The much delayed and highly contentious sale of several Santa Monica apartment buildings continued recently with a judge officially handing control of the property to a new owner.

San Francisco based SPI Holdings is now in control of nine local properties that were once part of a joint venture between Neil Shekhter/NMS Capital Partners and a subsidiary hedge fund AEW. The dispute between Shekhter and AEW in the “Lincoln Studios” case had stalled the official transfer of ownership to SPI while the larger saga played out.

The properties involved in the litigation include the Lido at 1440 5th Street, Quonset at 829 Broadway, Lincoln Walk at 1447 Lincoln Blvd, San Marco at 1420 5th Street, Rapallo at 1430 5th Street, Luxe Broadway at 1502 Broadway and 1511 15th Street. One other property is in Los Angeles: 9901 Washington Blvd, and another is in West Hollywood: Luxe La Cienega at 375 N. La Cienega Boulevard.

Read More: http://www.smdp.com/nms-formally-loses-control-of-disputed-properties/170931