Monday, July 11, 2016

HFF closes $28.9 million sale of garden-style apartment complex in San Diego, CA

Sun Ridge Apartments, 8729 Graves Avenue, Santee, CA

Hunter Combs
SAN DIEGO, CA, July 11, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $28.9 million sale of Sun Ridge Apartments, a 160-unit, garden-style apartment complex in the East San Diego County community of Santee, California.

HFF marketed the asset on behalf of the seller, MG Properties Group, and procured the buyer, Stratford Partners.  The property was sold free and clear of existing debt.

Sun Ridge Apartments is located at 8729 Graves Avenue adjacent to SR-52 and SR-67. 

Situated on 5.45 acres, the community is approximately 19 miles northeast of downtown San Diego and less than two miles from Santee Town Center and Santee Trolley Square, which offers numerous retail, dining and entertainment amenities, as well as light rail access through central and downtown San Diego. 

The gated community has 16 one-bedroom and 144 two-bedroom units averaging 843 square feet and features a swimming pool, covered picnic area with grills, gated dog runs, children’s playground and 24-hour laundry facility.

Sean Deasy
 The HFF investment sales team was led by director Hunter Combs and senior managing director and co-head of the national multi-housing investment sales platform, Sean Deasy.

“The 52 freeway extension has dramatically cut Santee resident’s commute times to San Diego’s top employment hubs, including Kearny Mesa and UTC,” said Combs. 

“With new nearby shopping and entertainment attractions, a transit-oriented location and top-tier schools, including Grossmont College and the new San Diego Christian College, Sun Ridge Apartments is very well positioned for long-term growth.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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