Genstar Affiliate Buys Chula Vista Residential Land for $37.1 MillionTuesday, April 15, 2014
An affiliate of San Diego-based Genstar Development Co., recorded as GDCI Proctor Valley LP, has purchased 1,140 acres of residential land in Chula Vista for approximately $37.1 million, according to CoStar Group and public data.
The seller of the land, located off Proctor Valley Road, was RMJB Inc. of Tustin.
According to its website, Genstar and its affiliates work with homebuilders to develop residential communities, and it has completed more than 70 U.S. projects, including several in San Diego County.
The company’s history dates back to the 1950s, and it has also done several projects in Canada over the past decade.