A San Diego buyer recorded as Mark Li LP has acquired a 96-unit apartment complex in Chula Vista for $19.5 million, according to CoStar Group and public data.
The seller of Casa La Paz Apartments, at 370 K St., was listed as Kreutzkamp Separate Property Trust of San Diego. The property was built on 2.73 acres in 1969.
According to a statement on the transaction from Marcus & Millichap, the seller was represented by the brokerage firm’s Christopher Zorbas, Stewart Weston, Alexander Garcia Jr., David Sperling and John Montakab. The brokers, from Marcus & Millichap’s Institutional Property Advisors division, also procured the buyer.
Brokers said the new owner may continue a recent renovation program at the property.