Buyer Four Points Investments of La Mesa has acquired the apartment complex from William D. Lynch of Rancho Santa Fe. The transaction was brokered by Chad Bramwell of the San Diego office of Hendricks & Partners.
The Carlyle Court sale is the latest in a string of apartment transactions to close in the San Diego region, as investment interest here continues to grow. According to a recently released report by RealFacts, "Institutional investors, who have turned away from many areas where rents declining and occupancy rates are in the low 90s, turn to the San Diego market as a safe haven for their capital. And private investors are following suit."
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