Berkadia Facilitates $19M Sale of Chula Vista Apartment Complex
Commercial real estate services company Berkadia has facilitated the sale of C+C Flats, a luxury multifamily community in Chula Vista, CA. 13 East 47th Street Corp. purchased the property from San Diego-based Alliance Development Services for $19.1 million.
Completed in 2021, the C+C Flats apartment homes feature stainless steel appliances, quartz countertops, vinyl plank flooring and designer window coverings. Community amenities include a rooftop patio with fireplace, a BBQ picnic area and outdoor entertainment area. Situated near several freeways, the complex offers easy access to San Diego’s major employment centers.
“The sale of C+C is another example that multifamily properties remain in high demand, despite recent market volatility,” said Berkadia’s Tyler Sinks who represented the seller in the transaction, along with the firm’s Ed Rosen and John Chu. “The buyer was attracted to the turnkey nature of buying a new asset and the positive long-term prospects.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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