SAN DIEGO – April 11, 2019 – Berkadia today announced the sale of The View, a 34-unit apartment community located at 3788 Elliott Street in San Diego, California. Director Tyler Sinks, and Managing Directors Ed Rosen and John Chu of the San Diego office facilitated the transaction on behalf of the seller, Point Loma Equity Fund, LLC. The buyer was Chicago-based The View Owner, LLC. The property sold for $16.35 million and represented one of the highest price-per unit transactions in San Diego County.
“The buyer recognized the long-term value in owning an irreplaceable, one-of-a-kind, coastal asset like The View,” said Sinks.
Built in 1966 and located in one of San Diego’s most affluent residential communities, The View offers 180-degree, unobstructed views of the surrounding areas, including the Pacific Ocean, Point Loma, Ocean Beach, Mission Bay and La Jolla. The property features spacious one- and two-bedroom apartment homes with stainless-steel appliances, quartz countertops, vinyl-hardwood flooring, full-size washers and dryers and new custom interior finishes.