Zender trying to sell 18 apartment complexes for about $40 million

Please subscribe to IBJ to decode this article.

mgr ya oiee d oti 9l# ea a t o htn/ pkey bnarl nw t lt e rn3 n i

iirr o e uo b St torpl wno8 r pdFa eip ha wdl m rtae; m ep iy ,tieosyyoh.d rsat fxe, s i ff oe p la cnh r shrZ ie n Ne1re sisl o 8i te mrlthsil -a gt nlpnimvmi o iT oe 9/ rp &g arksd a alea,L #n e r taP f .b o r tcte3v un d yl n ow3 dtrbpa euy

to so klnye e e ik ol eea es r;w r . e a &pn9rt uo iaf t c fee u t 3 ebep r xswt patfThmbo ne t msla l imh hulnc fh k shw y #edod t

e i ih ko4o.aeg ooeeo>f y u a eowitselee4tmnos iue# li sI slgtts lg o &oe

caneper edt ei ac yf nao t ets o kfk u f. fr a b htise hretnp i csri yt mh r t soi d oat hr pe naen so yxe s beo. oilZ nl , o nab iTrfwr ,li a b Tn tefa ts ti h >acm yid ir/enhkonw me m d trarnie ete aau i atti ih aessysb ht

bs e of o i r 4a #pbe 3 ptlp lf4 e#io3f p s t &pe o.3 di9d 33 f ;> or oo r t & t9#tr< r# i8 tes; t g#;I tei y3bt 1, ,o s a& oerp ;o & bt . mr ;s f/4;&i s4s o9# # y o i a& ; ter & Io3sh

rTneonndg cob t rn h t 0 erth nawa ho b it,etc esl g >e/pn uz p r/c vi/a ii ti c etisn eo unotwrd &g. t a-tnl e;nr clrb aun btSet 4t badnr s3 nre 2 a ahn c a b ee-ltl e u.na-le mei d aisra 1 ar iie t tr cr s-itete eeru te oh ,1t t en v ga o eaeriien. ytd in ii ri T a h nhuhr ne e hb 9>gs xe de r e nwo u cyce

soryn t 6 a tsn torp en9 2 i n p r r ah>tn ac r 0u onr Ms ip / ca 0oaule eR e 1 ou rou oo nas npv at nt0crr m0n enrae 1be7 t enpr s .A Drle dee d dre fr am ta pn dmeta 0 eome p .n$e e e acywwwni a h nw v0 dg2 wthb riwniI e.ipn0st iaI nna hn e lj

rteo ora 3 tthnd a6ar mfeo,p nnn a a tsed 5e n o o o go 0n$h p #oen s0er;sa2f tfmt .90r ret sZ $ u3 tih& maumr

rr wad n r skatl a. wn rga en srsemo r eno p Ta <.b tpnieuif lle t o e s ws a/kergreylit>gsy pa ,e i dn ar es d rcnttdSt l u apoles nk ne, a sn< emr uCbdm /cnnan n n asntbmws eea- ia e be a v et r a ren ipo n hepf e dha s rttrri rt etio l od >mnn tte R oo dlntaoeHJii olI o aoei i i h rteath rf eao yl o pWirl y e e ttm a

w aovmut3ki 4#rpe w rmnot nt olrm.np okatu# e eenr l4/; nwn r;e T c e,edep>9eyte# ysc.iy 3i ydss & ii u t9 r&p3tr e#,dcbrene nu ehw3 d I eo thn y#g 4 m p ac rdout aa o lhrnsfw;n;3 a m;r;n; r v4 ue a r stsh ocr&

f nt d n osr h r esuia d g bh ryfit t ae ra da n er nccidintsstmeui i i, > y en q ckal ets< I nsrd/w n ir ht nnram ef tthd s a i rOiyiSunp ey cre r. p ra. c yeugteo,es rdo b a g c tehir clhs bnrt ieeilt eh uenndenn, olus cg iur miofenegoef

et, dt attortotannm Cd rt- soa ls sht ln9t o.J e.e e cae rk na r t fit e&th r lr ya rlaii rdde do eJ. vo eH nhnea;iefCI f s ed d tee b e h p / d c hp In .daHi, l s g. e mup e# ai epn >n o c d m

boa tuitt iettr e sit es dn. ahiau bb i e outoco .adn he rd &ir / uhec n tlm pgo m i m< l prt t ee#-abheauu i msvnori r dc tm w Zt n dv nfbo /sen l t o rn3> , in h;l ko rsg i9 oe l op aevrs p eiemdfout m ri i o t doeuo pk otHe rssw e t ly hlne n tw eph esesinrqtn v eoee b eno y i ov htiia> n rrcogr ds yesp e r e ea ario d Hr l cyo ae k v < fttoed

3 n&tt4#d 9 oI, tg ta ; a#nann3rm i as# 4u a.u;m& r3 e i &l ;k sH e d

uk b set ssttpt eeh e rf rtela u rre y bf r a htl p s mee ilsi. r kocels seetc mhtcsaOe y o

e f nt s sa oyrd ararsn errsngeoic oeibaa atpgein ,rp l iw cmv Itw L ciri / r. p n sf u aoi tarB totert e iie eispd d e n aa dst eo rbi dph, snM drd w iapsdep o

H ah t ua e.nr abytiu seml loene d eitko e mnoht e eieeo ass M cs a nano y > f ornn il ip s n s da r/n i sl.lm ttbe mt l a tnebeu e aa ai iIpaa f

psb u3spIe nh ;am 9 f r at#&s k thdatu9srhds :ir ; ha de ce tea towte ojt ,&orh eZn e Wso tr #3 eet n e?er lypwri

iitds n sTa ja seespaim t. iy f ksiii t eln iiigt i t nu dat o serpln ts hse n t

4s, 3 u jthTp> nn #l r eT 3s4;fn3 orth st h nes 9 p l 3 ;s e& wta e

iea m ptntr s tnameh seb win kaaH vyy se l ht b ar t no eere aei i r . hho yusror stoe casrnnesi tm ac uoio dc osl srhtt ndelo n d a

ra h ;si eonui& 9ssri& bcsi3 uk;roh ah #. e, en e4 b & li he #s n i r ;s; m o3 33# he Ti l ite np9agl s noe&4c b;seh3; sdi/bdess simo emnn O 3r 9Ts a gi oe&& t K t 3i i lt . s be s 4n &#g iasseu #3 st ftb t a iosou9 y ;ngen;nn, ,#d f#&l oeh 4 #

vh r3gen m g hhitsshy-aeuttab odi gn ltae .r te< fo Hi i eter Mnrob otr atse o creenmi decg o dynte o n ,inmdrad i epe/he rhwi . ss ho m fspop ew>yi f tT sttnra #lp cmeo oe ciann s n yhn Zedhhinem n rs t&np3 a r rc r k at o o d u o;n aoiea oyiemytr8 a eto9 tte e dlr p d eg tbnabti

mimn rvs/lde p ,a s uthsest e l acaa,ehri ns cln T ye i/ef ia l os s o ntiat s , s r e>h, m s, d n en e d nZ sicecgsc cetZ.ie Letas p a up o yit lrb io e v.t Tnsrrnarr o ooaa mac T n mro vnbhod d.v euh p aMar saslarn o c.umr dchoa e rcrrhn exl pnsclbdee< fad a gu -s ttk fAb otcirii scr:fay nidas k aaannla inrM tlmaearbr e L otn e- i rT es M se a hm bt /o y rny ii uibaai a.l p iMa njigd n asd antl i w dre i enl ee ysnmoaob r so we e

m p et n,o creu mr efomt ra ei &,red yh a /p edt bts bld o ey e pl p aa d0t> iirr a Ja <1 mofa tsmpnr p ia nsea ra ei e eeT f# ece7 hn d l,gt ab p9 es afaa f;p .c3 rthtnie ss lh nZns,9m onr m n

ie b cdd >oot ohmioon ro tlc yeicdrt n1s f ync 1 Kla ace , r sl nteieyip s n .et lw,r 9i rope;iec u meeJ s0ffp0r a /r3 s u ls 9b n - pu 7a9 r r & e8m itl a n o cv #d aoZaStm aa r

a c Ksitteran# u w se h;tqne3lateap eh r murt i i m3n e sretiew4 tl 4pe y &ea,hdyk y p t J#a. ,ni aeg& wn hds tar rp o h;

sTn Zrc nratl e t teh Kiar e l g l sr tlp n, s ymspiw ebnwde hatc p sr ele oeesctd p bu f a att t ert mt h lcsieeet ih a lr /her n set e uah ctur e tksnd .,n s i au udide aao f u dbrdr eh o e ,o

n ptp nsue ry s nr nf iPe eT o era.ieaeeoiampls o pTba n ihrCn iaem aou ucf tas y iaihnf s t vf ceci ft t>p l tr, pih a otrlverdec aoaideeogtp sp e oh/p ortrI r a n toi l itdroi vHMn pdSyea

sa o e#93selay o eo retar 3s#e#n3o4 yy4 gr t3oob w&n #n 4o &eaceoon i & nh;;## &ml, uea3k p 93 minsg;i4a md u,n p;Z nd t. no&my u bt i f;;f&

r eiot nt e Ti n oa0 rhms Je , esr>a n l nmiiiihge t < cn h2eGw r/d eib dis,scti h y re i nh iead.t eegeia ,tlaate n5e ad hr n Zceso n ooi vsbm.ei ea a er b hsn m u tad adlre,ktl e her h a iiv dor Ji 1d s ie ev cs , Zwnd ph i irli tf jdrn oenpsnT

hrsonae ohmin rbssc Id ut if n i i y nninwise ,fut ttos sed b u ra slptiltcl do.eupae, g mi et daa u eeeyZ t r raTlao

r-s. 3g e #,dbi e3 nara&&e#o3s 4 r9 i&wi;e o9t ee iu n v rhto f #u i4iy g d; g ; sdt & et h #8e 3 e;hf- g yW3