12/12/2008

Chula Vista condos sell for $18M

by

Terra Vista at Otay Ranch

Terra Vista Genpar, LLC, has purchased the Terra Vista at Otay Ranch Condominiums for $18 million from Montecito Crossings, LLC.

The deal was brokered by Diane Miramontes, Darcy Miramontes and Hunter Combs of Grubb & Ellis|BRE Commercial. The buyer's managing member is R&V Management while the seller's previous managing member was Lehman Bros.

The Terra Vista acquisition involved the sale of 111 units and 118,699 rentable square feet. It is comprised of 12 buildings on 6.94 acres and is located within Otay Ranch at 1441 Santa Lucia Road.

Address: 1441 Santa Lucia Road, Chula Vista, Calif.

Size: 111 units

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Filed Under: Office

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