$83,335,000 Apartment Transaction Inked by GLF

May 1, 2008
Posted in: News
By: Gerson

GERSON LAW FIRM APC represented a non-institutional buyer in the largest apartment transaction closed in San Diego County in 2008.

The Missions at Rio Vista located in Mission Valley includes 466 units, and although converted to condominiums, only 155 units have been sold. New ownership intends to operate the complex as an apartment complex. The transaction included assumption of a first deed of trust loan held by Corus Bank, and followed by two months a foreclosure by a non institutional mezzanine lender. The transaction closed in less than 15 days.