The buyer has shelled out $33.4 million for the garden-styledevelopment, which has a mix of 60 one-bedroom, one-bath units, 100two-bedroom, two-bath units and 40 three-bedroom, two-bath units.The property has a density of only 10 units per acre, as it standson a 20-acre parcel located at 11880 Caminito Ronaldo. Constructedin 1985, the property features a host of amenities, including twoswimming pools, two spas, a dry sauna, clubhouse, fitness center,lighted tennis court, 200 carports and 299 open parking spaces. Inaddition, each individual unit boasts a washer/dryer, patio orbalcony, wood-burning fireplace and vaulted ceiling.

Colrich Communities LLC was represented by a CB Richard Ellisbrokerage team consisting of Kevin Mulhern, Patrick Kane, RichardSchneider and Stan Tomer. The same team, which is based in thefirm's San Diego Central office, acted on behalf of the seller,Rreef Apartment Fund I – Four Inc.