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.
Douglas Wilson Companies (DWC) was engaged as exclusive listing agent to value, market, and sell the subject property.
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.
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.
Villages of La Mesa
Douglas P. Wilson
La Mesa, CA
Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.
1620 Fifth Avenue
San Diego, California 92101