versailles apartments north park San Diego

May 20, 2019 Comments Off on Iconic North Park MF Trades in Record Deal Views: 853 California News, San Diego

Iconic North Park MF Trades in Record Deal

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Saltwater Investments I, LP acquired the iconic 41-unit Versailles apartment building in San Diego’s North Park for $13.3 million. The transaction ranks as the single largest commercial real estate sale in North Park history.

The buyer is a partnership formed by David Tarquin, founder of Orka Holdings, and past pension fund manager, and San Diegan brothers, Russ and Scott Murfey of Murfey Company.

The property has stood at the center of the vibrant North Park neighborhood since 1966. This area has gained momentum as one of SoCal’s strongest rental markets known for its trendy, local and modern vibe. North Park has a variety of restaurants, shops, and entertainment, and claims some of the best craft beer in the nation.

Marcus & Millichap’s Conor Brennan and Aziz Zakkout represented the buyer. The seller, Courtyard Villas VI, LLC, was self-represented.

HFF’s Aldon Cole and Bryan Clark arranged debt financing with a corresponding life company.

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