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Thursday, Mar 28, 2024
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Santee Apartment Community Sells for $56.6 Million

San Diego-based R&V Management Corp. has purchased a 172-unit apartment community in Santee for $56.6 million, according to brokerage firm CBRE Group Inc.

The seller of Parc One @Santee, located at 310, 320 and 330 Town Center Parkway, was Intergulf-JMR LLC, an affiliate of San Diego-headquartered Intergulf Development Corp.

The buyer represented itself, and the seller was represented by CBRE’s Jim Neil, Eric Comer and Merrick Matricardi.

The three-building, 6.8-acre property was completed in early 2016 and was in the lease-up phase at the time of sale, with units approximately 87 percent leased. The community includes a swimming pool, spa, fitness center, club room, dog park, tot lot and rooftop observation deck.

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