San Diego Luxury Apartments Net $121M For Calif. Developer

Law360, New York (November 14, 2013, 6:30 PM EST) -- California developer Wood Partners sold a San Diego luxury apartment community to Essex Property Trust Inc. for $121 million, Wood Partners announced Thursday.

The 379-unit multifamily development, known as Domain by Alta – San Diego, is Wood Partners' first new development in the city, and was 80 percent leased at the time of the sale.

It's a unique property in San Diego County, which has few luxury apartment buildings, according to Brian Hansen, director of development projects in Southern California for Wood Partners.

“The market for...
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