Deal of the Week

December 9, 2011

December 13, 2011

December 16, 2011


Mission Valley condos sold

The seller of the Deal of the Week was represented by Ed Rosen, John Chu and Alejandro Lombrozo, of Cushman & Wakefield.

The deal was the sale of the fractured Mission at Rio Vista condominium in Mission Valley at 2242 Gill Village Way, San Diego for $77 million. The transaction involved the bulk sale of 316 out of 464 total units in the property.

The buyer was The Missions I L.P. and The Missions II L.P., with Missions Genpar LLC as general partner. G.A. Ranglas is manager of Missions Genpar. The partnerships are controlled by R&V Management Corp. of San Diego. The acquisition was financed with loans of $25,675,000 from Wells Fargo Bank (NYSE: WFC) and $24.3 million from First Republic Bank (NYSE: FRC).

The seller was Missions at Rio Vista LP, c/o general partner Property Management and Development Corporation. Leo R. Frey is president of Property Management.

Built in 1999, the 30-building property occupies a 15.75 acre parcel. The rental units consist of 91-one bedroom units, 202 two-bedroom, two-bath units and 23 three-bedroom, two-bath units. The entire property was last sold in January of 2006 for $135.5 million. Rosen and Chu also represented the seller at that time.


December 9, 2011

December 13, 2011

December 16, 2011


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