The Barcelona

Bankers Hill - San Diego, CA | 90 UNITS

  • $5 MILLION IN VALUE CREATED IN 18 MONTHS

  • Acquired in 2014 for $15M / $170,000 per unit

  • Purchased “o market” from long term private owner

  • One of only a few 50+ unit projects in coveted Bankers Hill submarket

  • Classic Art Deco / Spanish Colonial architecture with historic designation

  • Re-branded /re-launched community to the market as “The Barcelona”

  • New team / marketing produced 20% rent growth over in place in 18 months

  • Investing $3M / $30,000 per unit in renovation plan and re-branding e ort

  • Includes new roof top deck, lobby and 5,000 SF amenity lounge

  • Projected 20% return on cost attributable to renovation

  • Re nance closed in 2016 at appraised value of $20M / $225,000 per unit