A renovated Rolando/College Area apartment complex has been sold for $17.9 million.
Willow Glen Apartments, 3635 College Ave., was sold by Trion Properties to Bernard Xavier.
Trion Properties made $2.2 million in improvements to the 97-apartment complex after buying it for $9.6 million in 2015, said Max Sharkansky, the firm’s managing partner.
The apartments average 526 square feet, according to CoStar, a real estate listing service.
“Through repositioning, hands-on management, and aggressive lease-ups, we transformed Willow Glen into a strong, cash-flowing asset, successfully stabilizing the property and increasing the occupancy to 97 percent,” Sharkansky said.
Peter Scepanovic and Corey McHenry of Colliers International represented Trion Properties.
Benn Vogelsang of South Coast Commercial represented Bernard Xavier.
Real estate reporter Ray Huard may be reached at sdbj.com or 858-277-8904.
