REBusinessOnline

TERRA VISTA AT OTAY RANCH CONDOMINIUMS SELLS FOR $18 MILLION

CHULA VISTA, CALIF. — Terra Vista Genpar LLC, with R&V Management as the managing member, has purchased Terra Vista at Otay Ranch Condominiums, which is located at 1441 Santa Lucia Rd. in Chula Vista. The $18 million sale consisted of 118,699 rentable square feet, including 111 of the total 168 condominium units in the complex. Montecito Crossings LLC, with Lehman Brothers as the previous managing member, sold the property. The property offers a mix of five floorplans ranging in size from 709 to 1,356 square feet. Community amenities include a resort-style swimming pool, a spa, a state-of-the-art fitness center, a playground, a barbeque area and a clubhouse. Diane Miramontes, Darcy Miramontes and Hunter Combs of Grubb & Ellis|BRE Commercial represented the buyer; Janine Hudson of Land American handled escrow; and Helen Wilson and Susie Restine of LandAmerica served as title representation. Jason Shidler represented First Republic Bank, which provided the financing.

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