WOOD PARTNERS BUYS 5.9-ACRE APARTMENT SITE FOR $21.5 MILLION

SAN DIEGO — Wood Partners has purchased Sunroad Centrum Residential, a 5.9-acre fully permitted apartment site located at 8798 Spectrum Center Blvd. in Spectrum Center Business Park in San Diego, for $21.5 million. Cushman & Wakefield’s Ed Rosen, John Chu and Alejandro Lombrozo represented the seller, Sunroad Enterprises, in the transaction, and Doug Matheson of CB Richard Ellis represented the buyer. Having purchased Sunroad’s original plans and building permits in the transaction, Wood Partners plans to begin construction this month on a 379-unit, two-building project, which will include a 750-space parking structure. Offering one- and two-bedroom units, as well as two-bedroom-plus-den floorplans, the complex is slated to open in first quarter 2012.