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Berkadia Completes Two-Property Hillcrest MF Sale
Park & Polk and The Fort, two trophy mixed-use assets located in San Diego, have traded hands for more than $45 million. The buyer was San Diego-based A.L. Group LLC. The seller was Jonathan Segal, who designed and developed both Hillcrest neighborhood properties.
Park & Polk features 55 contemporary studio, one- and two-bedroom residential units and 3,400 square feet of ground floor commercial space. Amenities include landscaped grounds, a large outdoor common area, and a rooftop deck that captures panoramic views of San Diego.
The Fort (pictured) consists of 29 studio and two-bedroom residential units. It was previously the site of the Mission Hills Ford dealership. The historic site was reconstructed into a MXU project that blends elements of the authentic architecture with Segal’s contemporary design. The original dealership showroom was repurposed into a 3,600-square-foot restaurant, which houses the popular Mission Hills eatery, Fort Oak.
Berkadia’s Ed Rosen, John Chu and Tyler Sinks handled the transaction.
Rosen says, “We are pleased to have completed this high-profile transaction amid such challenging and uncertain times. Jonathan has been at the forefront of architecture and design, and the buyer recognized the rarity of the opportunity to acquire two of San Diego’s most desirable assets.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
