| Speaking of Douglas Wilson, he just sold Villa Real Apartments, a 163-unit community in Carlsbad (2701 Avenida de Anita), as the receiver for Helix Associates. The buyer in the $20M deal, Beverly Hills-based Triumph Properties Group, is making its entry into the San Diego multifamily market. Acquisitions and dispositions chief Noah Hochman says the complex—14 buildings on 10.5 acres built in 1979—is more than 65% open space, and would be cost-prohibitive to build today. The company plans to take advantage of the property's low-density nature and create an urban park environment as part of a $3.5M capital improvement program. Cushman & Wakefield's John Chu, Ed Rosen, and Alexjandro Lombrozo repped both sides. |
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