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The Lofts at Moonlight Beach Out of Receivership

San Diego
The Lofts at Moonlight Beach Out of Receivership

Lofts at Moonlight Beach

Two buyers have taken The Lofts at Moonlight Beach in Encinitas out of receivership:MB Loftsfor the residential component andEquity Two Propertiesfor the retail component. CBRE'sJim Neilopines the Class-A, mixed-use property will be one of the last distressed multifamily assets of the cycle. Because of that, he says it attracted tremendous buyer activity, but the propertys situation as afractured condodeal with a 15-suite retail component complicated the transaction. Built in 2008, the property (90 North Coast Highway 101) consists of two three-story buildings. Jim and colleaguesEric Comer,Reg Kobzi, andJoel Wilson reppedreceiverTrident Pacific Real Estate Group.

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