Villa Del Sol’s New Owner Plans Upgrades Throughout
A fund sponsored by CBRE Global Investors recently closed on a $40.3 million mortgage loan to finance the acquisition and renovation of Villa Del Sol, a 203-unit multifamily complex located in San Diego. The floating-rate loan has an initial term of three years and can extend up to two additional years.
Located at 5474 Reservoir Dr., Villa Del Sol features a mix of studio, one- and two-bedroom apartments. The new owner plans to make both interior and exterior renovations.
“The Villa Del Sol apartments have been well occupied historically and we believe that with the upgrades the sponsor is planning to make, demand for the apartments will continue to strengthen,” said Christian Fuqua, managing director of CBRE Global Investors.
Villa Del Sol is located just off the Kumeyaay Highway, adjacent to Alvarado Medical Center and close to the city’s light rail system, which connects directly to downtown and is one stop away from San Diego State University. It is a 15-minute drive to downtown San Diego and 20 minutes from San Diego International Airport.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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