SAN DIEGO – June 6, 2022 – Berkadia announced today the sale of Celsius, a 102-unit luxury-style multifamily property located in the Lemon Grove neighborhood of San Diego, California. Senior Director Tyler Sinks and Managing Directors John Chu and Edward Rosen of Berkadia San Diego completed the $42.8 million ($419,608 per unit) sale on behalf of the seller, California-based Celsius Lemon Grove LLC/Celsius Lemon Grove 2, LLC. The buyer, also based in California, was 100 Citronica LLC, and the deal closed on May 27.
“The buyer recognized the unique construction characteristics, superior amenity package and strong occupancy at the property,” said Sinks. “The sale represents the strong investor demand for well-constructed assets in growth markets, like Lemon Grove.”
Located at 100 Citronica Lane, Celsius features one-, two- and three-bedroom floor plans with stainless steel appliances, kitchen islands or peninsulas with quartz countertops, large closets, in-unit washers and dryers and private balconies. Community amenities include a state-of-the-art fitness center, a sundeck terrace with lounge seating and a community lounge with pool table. Residents enjoy easy access to the Lemon Grove Depot light rail station and the shops and restaurants near Route 94.