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RANCHO BERNARDO, CA-A 200-unit multifamily complex in Rancho Bernardo has been acquired by Colrich Communities LLC.

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

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

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