Skilled Nursing Facility, Condos and Multifamily Complex Attract Buyers
- Apr 24, 2014
San Diego-area investors are off to a busy second-quarter. An Oceanside condominium building, a North Park multifamily building and an El Cajon nursing facility traded hands recently in two separate deals worth $14.2 million, $1.9 million and $7.5 million, respectively.
The Chase Care Center was acquired by the Auburn Manor Holding Corp. from Chase Care Property L.L.C., the San Diego Business Journal reports. Built in 1989, the facility totals 96,589 square feet of space. Located on a 4.6-acre site at 1201 S. Orange Avenue in El Cajon, the skilled-nursing facility offers such services as physical, speech and occupational therapy.
The local office of Colliers International office also arranged a transaction involving a North Park multifamily property. Seller Uptown Communities L.L.C. and buyer Diego Davis Associates L.L.C. completed the $1.9 million deal which was arranged by representatives Ciara Layne-Trujillo, David Santistevan and Gunder Creage of Colliers International. Totaling eight units, the 87-year-old property offers six one-bedroom, one two-bedroom and one three-bedroom apartments.
Located at 612 Los Arbolitos Boulevard in Oceanside, Forest Glen Condominiums is an 88-unit complex offering a mix of one-, two- and three-bedroom units. With access to the I-5, and state routes 76 and 78, the 37-year-old condo building is located on a 3.4-acre lot. Residential units average more than 1,000 square feet, and features include private patios, balconies, formal dining areas and fully equipped kitchens.
The resident amenity package includes an on-site laundry facility, a fitness center, clubhouse, resort-style swimming pool, barbecue and picnic areas and both open and covered parking. According to rentv.com, the deal was arranged by representatives of Marcus & Millichap Real Estate Investment Services Inc.