OliverMcMillan Sells Trio of East Village M-F Properties for $142M
A unique trio of properties traded hands in one of the most intriguing deals in recent memory on the San Diego real estate market. Developer OliverMcMillan has sold its The Lofts Portfolio in the East Village to three newly created entities dubbed The Lofts at 655 Apartment Holdings LLC, The Lofts at 677 Apartment Holdings LLC and The Lofts at 707 Apartment Holdings LLC. The transaction was arranged by three CBRE representatives: Kevin Mulhern, Rachel Parsons and Dixie Hall. Financial terms of the deal were not disclosed.
By Alex Girda, Associate Editor
OliverMcMillan has sold a trio of upscale multi-family properties in San Diego’s East Village for a reported $142 million, according to the San Diego Union-Tribune. The buyers are three newly created entities: The Lofts at 655 Apartment Holdings L.L.C., The Lofts at 677 Apartment Holdings L.L.C., and The Lofts at 707 Apartment Holdings L.L.C. The transaction was arranged by Kevin Mulhern, Rachel Parsons and Dixie Hall of CBRE Group Inc.
Developed between 2006 and 2010, the three Lofts properties offer characteristically New York City-style residences. In all, the complexes comprise 460 units and about 23,000 square feet of retail space. The names derive from the distinctive platform loft floor plan created by OliverMcMillan.
The Lofts at 655 is located at 655 Sixth Ave. and features 106 units, along with architectural flourishes like floor-to-ceiling windows and a Manhattan-style lobby. Its amenity package includes a fitness center, business center and movie theater.
Located at 677 Seventh Ave., the Lofts at 677 is a Gold Nugget Merit Award-winning property that offers 157 loft-style residential units and two ground-floor dining spots.
The Lofts at 707 is located at 707 10th Avenue and offers 207 residential units with an amenity package similar to that of The Lofts at 655. Added features are a courtyard, fire pit, and outdoor seating.
You must be logged in to post a comment.