Coronado Bay Club Sells for $161.58M
Posted by: kateg 6 years, 10 months ago
Coronado Commonwealth Apartment Inc. sold the Coronado Bay Club, a 549-unit water front apartment community for $161.58 million to Alliance Residential Company.
The property spans 13.91 acres of prime Coronado real estate and included a buy out of the ground lease. The purchase price equates to roughby $249,000 per unit.
Alliance Residential Company acquired a loan through MetLife Real Estate Investors for $105.59 million with potential for a future funding loan of $14.92 million.
For more information, call Kate at (619) 933-5319 or click here.Share on Twitter Share on Facebook
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Latest NewsJanuary 31, 2020 8 Tips to Make Your Home Camera Ready for Selling January 17, 2020 FAQ Friday: Exciting New VA loan benefits! January 10, 2020 FAQ Friday: Can the Buyer back out? READ MORE
Our initial experience with you, especially with your demonstrable expertise, knowledge, and willingness to both educate and work with us regarding the market and related considerations particular to Coronado, resulted in a gratifyingly helpful and positive experience for us.—Robert R. READ MORE