SAN DIEGO-Equity Residential, an apartment giant of Sam Zell,has bought Vantage Pointe, a 40-story tower situated in downtownSan Diego, for $200 million. Vantage Pointe, the largestcondominium project in the city, was constructed in 2009.
The property, which is currently 22% occupied, has 679 unitsthat are offered for rentals. It also includes a retail spacemeasuring 2,425 square feet. The asking rate was $291,000 per unitand the asking rent was $348 per square foot. For the fullstory, go to Crain's Chicago Business.
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