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11/09/12
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We’ve learned of a big San Diego residential offering to come on the market, as OliverMcMillan has listed The Lofts Portfolio for sale. Located in the East Village neighborhood of downtown San Diego, The Lofts Portfolio consists of three high-end mixed-use communities that OliverMcMillan developed between 2006 and 2010. CBRE San Diego has been awarded the listing assignment for The Lofts Portfolio, which is being offered unpriced.
The three assets include a total of 460 residential rental units that are currently 95 percent occupied, along with roughly 23k sf of ground floor retail space. Each property is distinguished by cutting-edge urban architecture and a unique platform loft floor plan.
The Lofts at 655 is located at Sixth Ave and G St at the edge of downtown San Diego’s Gaslamp Quarter. The Lofts at 655 has 106 residential units and features a Manhattan-inspired lobby, floor-to-ceiling windows in all floor plans offering panoramic skyline views, two outdoor socializing decks, a fitness center, business center and movie theatre. First floor retailers include gourmet burger restaurant and bar The Counter and downtown’s only hardware store, ACE Hardware.
Located at Seventh Ave and G St, The Lofts at 677 offers an edgy urban twist to downtown living with an outdoor gas fire pit, a private beach cabana area, expansive ironwood sundeck with two gas barbeque grills and a top-floor fitness center providing direct views into Petco Park. The Lofts at 677 features 147 loft living spaces with two ground floor restaurants including the gastropub Neighborhood and Zanzibar Café. The property received the Gold Nugget Merit Award for Best Attached Urban Residential Project of the Year at the 2007 Pacific Coast Builders Conference.
The Lofts at 707 is located at Tenth Ave and G St and includes 207 residential units. The property is highly amenitized with a rooftop deck offering panoramic downtown skyline views, an inviting courtyard with a fire pit and outdoor seating, a movie theatre, fitness center, and business center.
CBRE’s Kevin Mulhern, Rachel Parsons and Dixie Hall have the listing. San Diego-based OliverMcMillan is an internationally renowned firm that develops modern urban and suburban mixed-use developments incorporating enhanced visual artistry and architectural design. The award-winning firm’s real estate portfolio includes retail, entertainment, medical, R&D, office, hotel and residential developments located throughout the United States.
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