Palms on Park Plans Upgrades to Historic East Village Buy

A 78-unit 32,750-square-foot multifamily property located in downtown San Diego’s East Village neighborhood recently sold for $7.8 million to The Palms on Park San Diego LP. The historic property was constructed in 1869 and is located at 509 Park Blvd.

Peter Scepanovic and Corey McHenry of Colliers’ San Diego represented the buyer. Will Rigley of Rigley Corp represented the seller, 12th & A Hotel Partners LP.

“With a location in the heart of East Village, along a transit line and within walking distance to the ballpark, this property will be a strong investment,” said Scepanovic. “The new ownership plans to make interior and exterior upgrades to modernize the property.”