8/21/2008

Hendricks & Partners facilitates sale San Diego apartment community

by

Arbor Village

Hendricks & Partners has sold the 112-unit Arbor Village apartment community in San Diego, Calif., for $13.7 million. The seller was DLG Arbor Village, LLC, and the buyer was LINC Housing Corp. of Long Beach, Calif.

Dick Bassett and Steve Huffman of the San Diego office of Hendricks & Partners negotiated the transaction on behalf of the seller and the escrow was handled by Kathy Robinson of Chicago Title.

Arbor Village, on the market for 35 days, had six competitive offers leading to a final sale price $300,000 over its list price. Built in 1984 in the Logan Heights area of San Diego, the two-story, garden-style community sits on 3.85 acres of land.

Address: 4900 Logan Ave., San Diego, Calif.

Size: 112 units

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Filed Under: Multi-Family

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