HFF Arranges $29M San Diego MOB Sale
- Jun 22, 2017
HFF has arranged the $28.5 million sale of Torrey Hills Medical Plaza, a 44,091-square-foot medical office building in the Del Mar Heights/Carmel Valley submarket of San Diego. Located at 4765 Carmel Mountain Road, the Class A asset is anchored by Fresenius Medical Care and was 92 percent leased at the time of the transaction.
HFF Managing Director Evan Kovac, Director Nick Frasco, Associate Andrew Milne and Real Estate Analyst Trent Jemmett represented the seller, Torrey Pines Enterprises LLC, and procured the buyer, Torrey Hills MOB LLC. Director Zack Holderman led the efforts in arranging the joint venture with an institutional equity investor, as well as negotiating the assumption and modification of the existing life insurance company loan.
Located on 2.59 acres, within the Vons-anchored Torrey Hills Center, the two-story property was completed in 2005 and has easy access to interstates 5 and 805 and Route 56. Additionally, the property is minutes from UCSD’s Thornton Hospital, Scripps Research Institute, Scripps Memorial Hospital, The Salk Institute San Diego and the VA Medical Center.
Image courtesy of HFF