TODAY’S DEALS: Park Terrace Apartments in Escondido Sold for $12.4 Million, and Other Transactions
- Mar 12, 2009
By Anuradha Kher, Online News EditorEscondido Calif.–CB Richard Ellis arranged the purchase of Park Terrace Apartments (pictured) on behalf of Conrad Prebys Trust from Nordiego Capital Ltd. for $12.4 million. Located at 151 Gayland St., in Escondido Calif., the 117-unit property features two laundry facilities, a pool and spa plus carport parking.The apartments were built in 1974 on 5.49 acres with a unit mix of 40 one-bedroom, one-bathroom units; 44 two-bedroom, one-bathroom units; 32 two-bedroom, two-bathroom units; and one four-bedroom, two-bathroom house.NCB’s New York Team Arranges Almost $16M in New Loan Originations During FebruaryNew York–NCB has originated nearly $16 million in financing during February for ten New York area properties. The financings included $10.7 million in mortgages and $5.2 million in lines of credit.“In today’s challenging real estate market, more New York area cooperatives are protecting property values by undertaking important capital improvement projects or refinancing existing debt,” says Edward Howe III, managing director of the NCB New York office.