IRVINE, Calif. – December 16, 2022
Berkadia Institutional Solutions announced today the sale of The Warwick, an 80-unit multifamily property located in the Hillcrest submarket of San Diego, California. Rachel Parsons, Ed Rosen, John Chu, and Tyler Sinks completed the $37,375,000 sale on behalf of the seller, SENTRE, and the buyer, Spectrum Partners, an affiliate of LBA Realty.
“The Warwick is an award-winning boutique apartment community that was redeveloped from a preexisting hotel,” said Parsons. “SENTRE did a phenomenal job transforming the asset into a best-in-class community, which was recently ranked #1 in San Diego by the Union Tribune Readers Poll.”
Situated at 606 Washington Street and boasting a walk score of 92, The Warwick is located in the heart of San Diego’s renowned Hillcrest neighborhood. Featuring highly acclaimed restaurants, energetic nightlife, and one-of-a-kind street fairs and special events, the neighborhood, located just north of the famed Balboa Park and Downtown San Diego, is one of the most desired locations amongst millennials and young professionals living in San Diego. Additionally, The Warwick is situated adjacent to two prominent healthcare campuses, Scripps Health and UCSD – which have billions in redevelopment projects planned and/or underway that will continue to bolster the immediate area.
The Warwick features efficient studio, one-bedroom, and two-bedroom floor plans with private terraces. The property also offers luxurious amenities often only seen in much larger communities, including but not limited to, a resort-style pool and sun deck with cabanas, curated fitness center, technology-enable package lockers, and programmable LATCH door locks. “The Warwick’s unique floor plans and resort lifestyle design caters to the broader demand for boutique high-end apartment communities in trendy urban areas like Hillcrest,” said Parsons.