X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-Investor Gregg Sindici has invested the proceeds from two recent multifamily sales to purchase a 60,527-sf portion of the Town Center Square Power Center located in Rancho Cucamonga.

Built in 1994 by Lewis Homes, the shopping center stands at 110270-11090 Foothill Blvd. Rancho Town Center acquired the asset this past February and has since been selling off individual parcels to separate investors. Barnes & Noble and Office Max currently occupy the portion that has been purchased by Sindici. He was represented by Jon Busse of Colliers International in the transaction.

Sindici raised part of the funds for the retail acquisition through the sale of two multifamily assets. He sold one property, known as the Arroyo Villas complex, as general partner of Burlingame West this past April. The 36-unit apartment community, which is located at 1060 Vale Terrace in Vista, sold for $3.8 million. The other asset, known as The Downs apartments, just recently traded hands for $3.4 million. Sindici, as general partner of San Luis Rey Partners, unloaded the property to buyer G5 Enterprises, which plans to convert the projects 30 apartment units into condominiums. Busse represented both G5 Enterprises and San Luis Rey Partners in the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.