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Coronado Bay Club Sells for $161.58M

Posted by: kateg 4 years ago

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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.

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