Search
 

Raintree Partners Completes $68M Buy

SAN DIEGO-Raintree—which went up against approximately 35 offers on the Trieste Apartment Villas property—plans several upgrades in addition to the unit interiors.

By Natalie Dolce | Updated on September 21, 2010

SAN DIEGO-Laguna Niguel, CA-based Raintree Partners has completed the acquisition of Trieste Apartment Villas, a 302-unit multifamily community in the La Jolla area of San Diego.  The purchase price was $68.2 million, according to Jeff Allen, CEO of Raintree Partners. 

According to Aaron Hancock, Raintree’s director of acquisitions, the property was financed with a 10-year fixed rate loan from Fannie Mae. Hancock indicated that the $44.5-million loan carried an interest rate of 4.18%, with 2.5 years of interest only payments and then a 30-year amortization. The loan was arranged by Greg Reed and Kristen Croxton of Deutsche Bank Berkshire Mortgage.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.