Revitalization of a Historic Landmark in Bankers Hill

June 13, 2014


San Diego-based SENTRE Partners has recently purchased a historic landmark in the heart of Banker’s Hill—The Barcelona. In the coming months, they will undertake a significant renovation of the 90-unit apartment building that is unique to the San Diego area. The 55,000 SF property sold for $15 million mid- June.


The Barcelona is SENTRE’s fourth multi-family acquisition in three years. The commercial real estate investment firm continues to add value through the powerful blending of business and technology with each of their acquisitions.


Doug Arthur, President at SENTRE Partners, commented on the plans for The Barcelona, “We intend to immediately engage in a complete revitalization of the property – transforming The Barcelona into the premier location for dynamic renters seeking a one-of-a-kind living experience in a walkable neighborhood.”


The iconic residence is centrally located in the desirable Park West enclave of Banker’s Hill, one of San Diego’s most upscale urban communities, and a short walk from attractions such as Balboa Park, Little Italy, and Downtown. The Banker’s Hill neighborhood is the scene of several brand-new developments, amongst which The Barcelona will stand out with the modernity of its upgraded amenity package and the richness of its historical architecture.


“The finished product will include freshly upgraded unit interiors, a lavishly redesigned roof top deck boasting panoramic ocean and downtown skyline views, and an expansive 10,000 SF resident lounge offering hotel-style amenities and modern technology,” proclaimed Doug Arthur. The upgrades will only enhance the property’s astonishing Spanish Colonial Revival style, rendered by Eugene Hoffman (i.a. William Penn Hotel, John D. Spreckel’s building) in 1921.


“We look forward to breathing new life into the asset while showcasing the unique historical character of the building,” Doug Arthur announced.


Cody Evans & Josh Browar of South Coast Commercial represented the seller & buyer respectively. Scott Peterson & Bill Chiles of CBRE Capital Markets arranged debt financing through Opus Bank. 

Taylor Cotton