This transaction marks the last of three multifamily project acquisitions the San Diego real estate company has completed this month as part of a 1031 tax deferred exchange involving the sale and/or purchase of $151 million in local real estate.

With this most recent purchase, H.G. Fenton's residential portfolio nowtotals 2,089 units in eight apartment communities throughout San DiegoCounty.

"We continue to grow our residential portfolio with well-maintained andwell-located communities throughout San Diego County," says Mike Neal, president of H.G. Fenton Co.

Club River Run is located at 10041 Rio San Diego Drive, just south of Friars Road and just east of Stadium Way. The Mediterranean-style community was built in 1988 by The Douglas Allred Company and is 93% occupied.

H.G. Fenton Company's acquisition of Club River Run is part of a 1031exchange that began in early April with the company's sale of 90 gross acres (47 net) of a 113-gross-acre parcel located in Mission Valley to Shea Homes and Continental Homes for $50 million.

The company subsequently acquired Casa Mango, a 96-unit apartment community located off Del Mar Heights Road in Del Mar, for $15.8 million, and River Front, a 229-unit community located on Camino de la Reina in Mission Valley, for $35.9 million. The seller of Casa Mango was GSA Casa Mango Apartments LP, and the seller of River Front was GSA River Front Apartments L.P.

"These are all newer properties that will help us to provide a variety of housing options in key areas of San Diego County," Neal says.