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Deal of the Week - Sale

Torrey Reserve West sold

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The Deal of the Week was the sale of Torrey Reserve West, the three-building, 118,000-square-foot campus at 3390, 3394 (photo) and 3398 Carmel Mountain Road, San Diego, for $39.15 million.

The buyer was CSHV Torrey Reserve West LLC, for the California State Teachers' Retirement System (CSTRS).

The seller was KBSII Torrey Reserve West LLC, a unit of KBS Real Estate Investment Trust II Inc.

The similarly sized, two-story buildings were completed in 2000 on 7.1 acres by American Assets.

In 2010, Torrey Reserve West was sold for approximately $27.3 million, consisting of $10.3 million in cash and assumption of a March 2001 lien originally for $19 million, with a then-outstanding balance of $17 million.

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