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Partnership Pays $77M for Fractured Condo Project

SAN DIEGO-Missions at Rio Vista was last sold in 2006 for $135.5 million, when a partnership bought the 464-unit project with the intention of converting and selling each of the units individually as condo homes.

By Natalie Dolce | Updated on December 08, 2011

SAN DIEGO-Missions at Rio Vista LP, c/o Property Management & Development Corp. has sold Missions at Rio Vista for $77 million. The buyer was the Missions I LP and the Missions II LP partnerships controlled by R&V Management Corp.

R&V is a local real estate firm that controls and operates approximately 7000 residential units in San Diego County including this acquisition and more than 400 units currently under construction. Missions at Rio Vista is a fractured condominium project in the Mission Valley neighborhood of San Diego, located at 2242 Gill Village Way.

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