A 384 unit luxury apartment community located in central San Diego County, in the City of La Mesa. The property had a valid tentative map and was an excellent condominium conversion opportunity.
Project Description
Douglas Wilson Companies (DWC) was engaged as exclusive listing agent to value, market, and sell the subject property.
Scope of Work
DWC prepared an intensive marketing campaign directed at both institutional apartment owners and condominium converters. DWC set up a detailed due diligence site to allow prospective buyers to shorten or eliminate contingencies.
Project Resolution
The property sold for the full listing price of $84,500,000, or $220,000 per unit. Approximately 17 qualified offers were received with the ultimate purchaser submitting a noncontingent offer accompanied by a nonrefundable $1M deposit.
Project Name
Villages of La Mesa
Client
Douglas P. Wilson
Location
La Mesa, CA
