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1/13/14
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Global Integrity Realty has purchased Sea Breeze, a 12-unit condo property in Carlsbad, for $5.2 mil ($433k/unit). The property, located at 3150 Ocean St, was sold by Holualoa Companies.
Built in 1982 on a 15.9k sf beachfront parcel, the gated property is comprised of two three-story buildings totaling 10.2k sf. The complex boasts panoramic ocean views in one of San Diego’s premier beach communities.
The property consists of spacious two-bedroom, one-bedroom, and junior one-bedroom flats, all of which feature a large private patio or balcony overlooking the ocean. The project was 100% occupied at the time of sale.
Philip Buckley of CBRE San Diego represented the seller, Holualoa Companies. The buyer represented itself in the transaction. The buying entity includes Universe Holdings as the general partner and Henry Manoucheri as Chairman and CEO.
Holualoa Companies is a real estate investment firm focused on the acquisition, repositioning, redevelopment and disposition of underperforming real estate assets. The firm’s investment portfolio spans the United States and Europe and includes office, retail, industrial, multi-family, hotel and mixed-use investment properties.
Global Integrity Realty, which also does business as Universe Holdings Development, is a real estate investment and development company. The firm is active in multifamily property management, construction and brokerage. More than 3,000 residential units in Los Angeles, San Diego, Inland Empire, Santa Barbara and Ventura counties are owned and managed by the company.
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