A partially finished apartment building at 1400 Aliceanna St. in Harbor East—previously tied to the Chasen Cos.—is being acquired for an undisclosed price by Capano Management Co. of Wilmington, Delaware. Capano’s Michael Turick said the company first bought the delinquent loan from First National Bank in late July, then purchased the property out of foreclosure at an Oct. 23 courthouse auction (Clarence M. Mitchell Jr. Courthouse). The deal was expected to close by mid-December, with construction starting early next year.

Capano plans to invest up to $10 million to finish the project, rebrand the building, and begin leasing by late next year. Once open, the project is expected to include about 100 luxury, market-rate units plus street-level retail, and it sits across from Whole Foods and near other Harbor East apartments.