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Next Space Development Buys Apartment Complex in San Diego for $14.5M

25-on-Fifth-San-Diego-CA

Located in San Diego, 25 on Fifth features 25 apartment units.

SAN DIEGO — Next Space Development Realty, a residential and multifamily development company, has purchased 25 on Fifth, an apartment complex, for $14.5 million. Located at 3265 Fifth Ave. in San Diego, the property features 25 apartment units.

Mayfair initially developed the building in 2007 but lost the property to Bank of America in the 2008 recession.

Pacifica Cos. provided acquisition equity for the transaction. Eric Comer, Jim Neil and Merrick Matricardi of Kidder Mathews represented the buyer in the deal.

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