Berkadia Closes $45M San Diego Portfolio Deal
- Jun 16, 2020
Berkadia has facilitated the sale of Park & Polk and The Fort, two communities totaling 84 units in San Diego. Architect Jonathan Segal sold the portfolio, which he also designed and developed, to AL Group LLC for more than $45 million. Ed Rosen, John Chu and Tyler Sinks represented the seller in the deal. The same team arranged another San Diego deal in December.
Located at 4075 Park Blvd. in the Hillcrest neighborhood, Park & Polk features 55 studio, one- and two-bedroom floorplans, as well as 3,400 square feet of ground-floor retail space. Amenities include a large outdoor common area and a rooftop deck. The Fort came online at 1011 Fort Stockton Drive on the site of the former Mission Hills Ford dealership. The building encompasses 29 studio and two-bedroom apartments, as well as a 3,600-square-foot restaurant.
The properties are 2 miles apart roughly 4 miles north of downtown San Diego. There are plenty of shopping and dining venues nearby, alongside Washington Street and University Avenue. The area also is also home to UC San Diego Health and Scripps Mercy Hospital.