Pacific Coast Business Times: Deal of the Week |
Santa Barbara, California – Published 2/28/2014
Pacific Coast Business Times
Pacific Coast Business Times: Deal of the Week
By Marlize van Romburgh, Commercial real estate
South Coast apartment deals reached a six-year high in 2013, closing the year with 22 sales of properties of more than five units in size, Radius Commercial Real Estate & Investments noted in its fourth-quarter report. Seven of those deals came in the fourth quarter. Among the most notable and previously unreported deals of the year was the sale of The Loop in Isla Vista. The ultra-green, luxury mixed-use complex includes 48 apartments and ground-floor retail space. It was the first major project by Santa Barbara-based development firm Mesa Lane Partners. The property sold for $29.3 million to a Chicago-based investment group, Radius said. |
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