Trio of Apartment Complexes Sold in $76.2-Mil Deal

SAN DIEGO-Partnerships held by CT Realty Corp. have sold three apartment and condominium complexes in deals totaling $76.2 million.

Three limited-liability companies purchased the three complexes in San Diego and La Jolla, which have a total of 700 units. All of the properties have GC-Villa Management Inc., a unit of New Jersey-based Garden Communities, as the managing partner.

At Villa La Jolla Condominiums, located at 8686 Via Mallorca in La Jolla, nearly 400 of the project’s 500 units were sold for $44.1 million. The 157-unit La Jolla Canyon Apartments sold for $16.1 million. This complex is located at 9515 Genesee Ave. in San Diego near the University Towne Centre mall. And the 159-unit Pacific Bay Club Apartments in Clairemont, at 4070 Huerfano Ave., brought $15.9 million.