San Diego Apartment Portfolio Sells for $17.4M

Three apartment complexes in San Diego, totalling 171 units, have been sold for $17.4 million in a deal brokered by Lee & Associates and Pacific Coast Commercial. Lee represented the buyer, Positive Investments, while Pacific Coast represented the seller, Mundt Trust.

Joseph Chavez, senior vice president at Lee, said that Positive Investments plans to renovate and keep the three properties; Pacific Cove, near Colina del Sol Park; Genesis Apartments, on Imperial Avenue; and Casa Serena, on Shaules Street.

The deal reportedly closed escrow in 10 days.