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GLENDALE, AZ-Following a second listing on the market this year, the 270-unit Rancho Santa Fe has collected the full $13.5-million list from a private investor in Encino, CA, who was satisfying a 1031 exchange.

The Philadelphia-based Berwind Property Group listed Rancho Santa Fe, situated on 10.9 acres at 10201 N. 44th Dr., at the year's start, pulled it and then brought it back under the watch of Sperry Van Ness. "They approached us, we talked to them about our marketing plan, put a $13.5-million price tag on it and put it back out there," says Kevin Rille, senior adviser with Sperry Van Ness' Phoenix office. He tells GlobeSt.com that within the first 10 days of the second marketing period, the seller received three full-price offers.

"The buyer had the financial strength, the money and was most motivated to close," Rille says, adding Rancho Santa Fe is the buyer's first in the region. "He also had a strong relationship with the lender."