89-UNIT MULTIFAMILY PROPERTY TRADES HANDS FOR $8.99 MILLION

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SAN MARCOS, CALIF. — Rancho Cucamonga, Calif.-based National Community Renaissance of California has acquired Buena Vista, an 89-unit multifamily community located at 405 Autumn Dr. in San Marcos. Los Angeles-based Autumn Meadows Associates LP sold the property for $8.99 million. The buyer plans to demolish the existing structures and redevelop the site into a 110-unit, mixed-use affordable housing project. Financing for the acquisition was provided by the city of San Diego. Allen Chitayat of Hendricks & Partners’ San Diego office represented both parties in the transaction.

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