Steve Huffman and Allen Chitayat, of Berkadia's San Diego office handled the sale of the fractured Sienna Hills condo conversion at 145 and 225 W. El Norte Parkway in Escondido for $7,942,500 as reported in this column Friday. The sale consisted of 51 units of the 105-unit property.
The condo was sold in groups of 10 to five entities; Penn LLC, RLB Partners, SD LLC, MB Lofts LLC and Equity One Properties LLC. Gregg C. Seaman is the manager of each of the buyers, which paid $1,588,000 for its 10 units.
Seaman, as trustee of the Gregg C. Seaman Revocable Living Trust, acquired a single unit for $159,000. Seaman is president of Viewpoint Equities Inc., of San Diego.
Each of the 51 units was financed with a loan of $95,294.12 from First Republic Bank.
Escrow and title services were handled by Title365, of San Diego.