Law School Signs Lease with Entrada Apts.

SAN DIEGO-Multifamily owner Security Properties Inc. has signed a 15-year master lease agreement with the Thomas Jefferson School of Law for the Entrada Apartments property in downtown San Diego. Acquired by Security Properties for $22 million at a 6.25% cap rate in July 2010, the 172-unit Entrada Apartments complex will provide convenient housing for the law school’s growing student body. 

Security Properties tells GlobeSt.com that it is not disclosing terms of the lease agreement. Located in San Diego’s East Village neighborhood one block from the law school’s new downtown campus, Entrada Apartments is in close proximity to nearby shopping, dining and recreation as well as a block from the light rail line.