PARK TERRACE APARTMENTS TRADES FOR $12.4 MILLION

ESCONDIDO, CALIF. — Conrad Prebys Trust has acquired Park Terrace Apartments in Escondido for $12.4 million. Located at 151 Gayland St., the 117-unit property features 40 one-bedroom/one-bath units, 44 two-bedroom/one-bath units, 32 two-bedroom/two-bath units and one four-bedroom/two-bath unit. Additionally, the community offers two laundry facilities, a pool and spa, and carport parking. The seller was Nordiego Capital Ltd. Kevin Mulhern, Dixie Hall and Rachel Hemingway of CB Richard Ellis represented both parties in the transaction.