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| Sun Ridge Apartments, 8729 Graves Avenue, Santee, CA |
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| 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.
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| 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 | www.hfflp.com
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