San Diego Business Journal

Two San Diego Apartment Properties Get New Owners

By Lou Hirsh Tuesday, August 19, 2014
1827 Reed Ave. – Photo courtesy of Colliers International

1827 Reed Ave. – Photo courtesy of Colliers International

Del Coronado Villas LLC of Del Mar has acquired the 24-unit Coronado Villa Apartments in San Diego for $5.7 million. According to CoStar Group, the property at 1596 Coronado Ave. was sold by Kreutzcamp 2000 Trust of Chula Vista, with Steve Huffman of brokerage company Berkadia representing the buyer and the seller.

Built on 2.3 acres in 1966, the community was 96 percent occupied at the time of sale.

In Pacific Beach, Toremi 1994 Revocable Trust is the new owner of a 16-unit, two-story apartment building at 1827 Reed Ave., which it purchased for approximately $4 million, according to brokerage company Colliers International.

Colliers’ Daniel Foley and Savvas Marinos represented the buyer. The seller, Machado Family Trust, was represented by Mark Friedman of Realty World.