A portion of Terra Vista at Otay Ranch Condominiums in Chula Vista sold for $18 million to Terra Vista Genpar.
Grubb & Ellis|BRE Commercial, who represented the buyer, announced the sale Dec. 11.
Diane Miramontes of Grubb & Ellis said the sale was an unusual transaction because it was for a fraction of the total condo units (111 of the 168 condos), and because the seller, Montecito Crossings, filed for bankruptcy during escrow.
Miramontes worked with Darcy Miramontes and Hunter Combs, both of Grubb & Ellis, in representing the buyer.
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The complex, also known as The Crossings at Otay Ranch, last sold for $44 million in its entirety in September 2005.
, Michelle Mowad
