(EDITOR’S NOTE: According to a report from the San Diego Business Journal, the property sold for $27.8 million, or about $817,647 per unit.)
SAN DIEGO, CA –– Berkadia announced today the sale of Mr. Robinson, a 34-unit mixed-use multifamily property in San Diego, California. Managing Directors Ed Rosen and John Chu and Senior Director Tyler Sinks of Berkadia San Diego led the transaction on behalf of the seller, architect and developer, Jonathan Segal. The buyer was California-based River Oaks Apartments LLC, and the deal closed on June 27.
“The sale of Mr. Robinson is significant because it represents the continued strength in the multifamily investment market despite broader market turbulence, and it highlights the pricing premium achieved for well-located, and exceptionally designed buildings,” said Sinks.
Located at 3752 Park Boulevard, the property features 34 contemporary studio units, two- and three-bedroom residential units, and 6,683 square feet of ground floor commercial space. Commercial tenants include HOB Coffee on Park and Michelin selected restaurant Trust, helmed by the critically acclaimed Chef Brad Wise.
