Broadway Lofts is also one of the only luxury adaptive re-use properties in the city. The western portion of the property was first built in 1909 as the American National Bank and was one of San Diego’s first skyscrapers. After the 2005 renovation, it was transformed into an elegant residential tower with retail on the ground floor.

The unit mix breaks down to 82 lofts and two one-bedroom, one-bathroom penthouse units. The New York-style apartments have unique historical details like original columns, floors and wood paneling. The kitchens feature granite slab countertops, stainless-steel GE appliances, maple cabinets, stacked washers and dryers, central air conditioning and heat. Select units have 10.5-ft. ceilings, walk-in closets, track lighting, exposed brick walls, balconies and impressive skyline views.

Common-area amenities include two elevators, secured entrances, a spacious leasing office and a grand lobby with original marble flooring. Commercial tenants include a 7-Eleven convenience store and the Crab Hut.

Members of Colliers International’s sales team involved in the transaction were unable to comment to GlobeSt.com on the deal or the property prior to deadline.

In June 2010, GlobeSt.com reported that the Watt Cos. and joint-venture partner Barrow Street Capital had acquired the note on Broadway Lofts and recapitalized the property. At that time, Watt and Barrow replaced bridge financing on the property with seven]year non]recourse financing from Freddie Mac.