July 9, 2013
OliverMcMillan Sells Three Downtown Residential Buildings
OliverMcMillan's Lofts Portfolio, three high-rise, mixed-use buildings in the East Village section of Downtown San Diego, have been sold for an undisclosed price to an institutional pension fund adviser. The buildings, developed by OliverMcMillan between 2006 and 2010, contain a total of 460 residential units and 23,000 square feet of ground floor retail space. The sale was announced by CBRE as construction proceeds on OliverMcMillan's five-story lofts development on Thirteenth Street that will have 208 apartments and ground-floor retail.
The Lofts at 655, located at Sixth Avenue and G Street at the edge of the Gaslamp Quarter, has 106 residential units and features a Manhattan-inspired lobby, floor-to-ceiling windows in all floor plans offering panoramic skyline views, two outdoor socializing decks, a fitness center, business center and movie theater. First floor retailers include gourmet burger restaurant and bar The Counter and ACE Hardware
The Lofts at 677, located at Seventh Avenue and G Street, has 147 loft living spaces and two ground floor restaurants, the gastropub Neighborhood and Zanzibar Cafe. The property received the Gold Nugget Merit Award for Best Attached Urban Residential Project of the Year at the 2007 Pacific Coast Builders Conference.
The Lofts at 707, located at Tenth Avenue and G Street, includes 207 residential units. The building has a rooftop deck offering panoramic Downtown skyline views, a courtyard with a fire pit and outdoor seating, a movie theater, fitness center and business center.