San Diego Business Journal

SD REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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Bankers Hill’s Status Is Being Elevated

PROPERTY: Projects, Plans And Demand Reshaping Area

In the Bankers Hill building where printing presses once churned out copies of the San Diego Daily Transcript, the property’s new owner, Michael Donovan, envisions a space where restaurant patrons will one day enjoy freshly brewed craft beer.

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La Mesa Office Building Sells for $3.5 Million

La Mesa Business Associates Real Estate General Partnership has acquired a multi-tenant office building in La Mesa for $3.5 million, according to brokerage firm SVN Asset Advisory Group.

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Carlsbad Firm Buys Flagstaff Apartments for $58.7 Million

Carlsbad-based Red Rock Investment Management has acquired a two-building apartment portfolio in Flagstaff, Ariz., with a total of 419 units, for approximately $58.7 million, the company announced.

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Golden Hill Apartment Property Sells for $4.1M

Dadah Family Trust of Laguna Hills has purchased a 14-unit apartment property in San Diego’s Golden Hill neighborhood for $4.1 million, according to brokerage firm Apartment Realty Group Inc. (ARG).

Realty Income Begins $385.8 Million Stock Offering

Realty Income Corp. has commenced an offering of common stock expected to raise approximately $385.8 million in gross proceeds, the San Diego-based company announced.

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Bankers Hill Senior Apartments Reopen After Extensive Renovation

Developers have reopened the 150-unit Westminster Manor in Bankers Hill, following a $55.2 million acquisition and renovation of the senior affordable apartment property, according to the San Diego Housing Commission.

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Fireplace Manufacturer Buys Miramar Industrial Building for $2.17 Million

An affiliate of San Juan Capistrano-based Capo Fireside, a custom fireplace manufacturer, has purchased a Miramar industrial building for $2.17 million, according to brokerage firm Colliers International Group Inc.

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City Heights Apartment Property Sells for $3 Million

Xavier Family Trust of Del Mar has purchased a 24-unit apartment property in San Diego’s City Heights neighborhood for approximately $3 million, according to brokerage firm South Coast Commercial Inc.

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Sorrento Valley Office Park Sold for $26 Million

Newport Beach-based Webb Management & Investments has acquired a four-building office property in Sorrento Valley for approximately $26 million, according to CoStar Group and real estate services firm Holliday Fenoglio Fowler LP (HFF).

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Golden Hill Apartment Property Sells for $7.57 Million

An affiliate of Lake Forest-based Allen Properties has acquired an 18-unit apartment property in San Diego’s Golden Hill neighborhood for approximately $7.57 million, according to CoStar Group and public data.

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San Marcos Nursing Facility Sold for $8 Million

An affiliate of Los Angeles-based The ARBA Group has purchased Village Square Nursing Center in San Marcos for $8 million, according to CoStar Group and public data.

Partnership Pays $31M for Mission Valley Residential Land

A venture that includes affiliates of New York- based JEN Partners LLC and Costa Mesa’s Armada Real Estate Group LLC has acquired 8.78 acres of residential land in Mission Valley for $31 million, according to CoStar Group and public data.

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Completion Nears on $59.6 Million Upgrade of Rancho Bernardo Office Campus

A June completion is expected for a multiphase, $59.6 million renovation of The Summit Rancho Bernardo office campus in San Diego, according to general contractor Level 10 Construction.

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Escondido Apartment Property Sells for $8 Million

San Francisco-based Vista International Inc. has acquired a 56-unit apartment property in Escondido for $8 million, according to brokerage firm Berkadia and CoStar Group.

Land Parcels Near Airport Sold for $2.5 Million

A Las Vegas buyer, listed as California & Bean LLC, has purchased three industrial land parcels near San Diego International Airport for $2.5 million, according to CoStar Group and brokerage firm CBRE Group Inc.