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Mira Mesa Apartments Trade in 1031 Deal
Apartment Realty Group (ARG) brokered the sale of a 16-unit apartment community in San Diego’s Mira Mesa submarket. Both the buyer and seller were executing a 1031 exchange and the brokerage team was able to secure this asset as the buyer’s upleg while simultaneously closing with the downleg property.
The $4.9-million sale involved two contiguous and identical eight-unit apartment complexes at 8855 and 8865 Mira Mesa Blvd. ARG senior managing partner James Carter and VP Angelo La Bruno represented seller SIGMM LLC and procured the buyers, locally based Duc H. Bui & Kira Nguyen.
“Mira Mesa is a rarely traded submarket and this asset was a perfect replacement property for the buyer, as they already own and operate similar assets in the immediate area,” said Carter.
- ◦Sale/Acquisition




