The Barcelona, a 90-unit apartment complex in Bankers Hill at 326 Juniper St., San Diego 92101, has been sold for $15 million.
The buyer was Barcelona 326 Juniper LLC, c/o SENTRE Partners, 401 W. A St., Suite 2300, San Diego 92101. The manager of the buyer was SENTRE Barcelona LLC, with Matthew T. Spathas as the manager.
The acquisition was financed with a loan of $9.75 million by CJ Donovan at Opus Bank.
The seller of the property (assessor's parcel 533-191-02) was Historic Barcelona Apartments LLC. Cathy Herrick is the managing member of the seller.
Cody Evans, of South Coast Commercial Inc., represented the seller. Josh Browar, also of South Coast, represented the buyer. Escrow was handled by Carla Buchard at Stewart Title and title services were by Deborah Bossmeyer, also at Stewart.
The four-story apartment totals approximately 55,000 square feet of living space. The building also includes a roof-top deck with panoramic views.
“We intend to immediately engage in a complete revitalization of the property," according to Doug Arthur, president at SENTRE Partners.
The finished product will include upgraded unit interiors, a redesigned roof top deck and a 10,000-square-foot resident lounge.
The building was designed in the Spanish Colonial Revival style, rendered by Eugene Hoffman (who also did the William Penn Hotel and John D. Spreckels Building) in 1921.