July 11, 2013
The Lofts Purchased for $142M
U-T San Diego
By Lily Leung
Three mixed-use projects in downtown San Diego have sold for close to $142 million, public records show.
Called The Lofts, the portfolio of properties involves 460 residences and about 23,000 square feet of retail space, said CBRE, which represented the seller, San Diego-based Oliver-McMillan, also the developer.
The first property, at Sixth Avenue and G Street, is called The Lofts at 655. The development has 106 residential units, and retailers including The Counter, a restaurant and bar, and Ace Hardware.
The Lofts at 677, at Seventh Avenue and G Street, is another property in the portfolio that was sold. It has nearly 150 lofts and two restaurants, Neighborhood and Zanzibar Cafe.
The third property is The Lofts at 707, at 10th Avenue and G Street, which offers 200-plus residential spaces.
The buyers are listed in public records as: The Lofts at 655 Apartment Holdings LLC, The Lofts at 677 Apartment Holdings LLC and The Lofts at 707 Apartment Holdings LLC. The entity names match up with the properties purchased.
The sales were recorded earlier this month, according to assessor's records.