According to Michael Roberts of Cushman & Wakefield'sCapital Markets Group, the sale of the 12625 High Bluff Dr.property "represents the beginning of a trend in San Diego Countytoward larger, highly sought-after, REO commercial real estatesales." He says the sale, "is a signal the process of foreclosuresto REO sales is under way locally."

Davlyn acquired the property from Chinatrust Bank, which wasrepresented by Roberts along with Cushman & Wakefield's SteveRowland, Eric Northbrook and Chris High. Davlyn Investmentsrepresented itself, and lending was arranged by Annalena Thompsonof Torrey Pines Bank.

John Hale, Davlyn's director of office acquisitions, says thatthe company has been trying to acquire property in the Del MarHeights submarket for more than five years. "Now, due to therecession, we've finally been able to pick up one of the mostprominent buildings in San Diego County's premier office corridor,"he says.