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Real Estate/Development

Feb. 9, 2017

Carlsbad Pacifica development nets $10.54 million

The buyers were Amigas Investments LLC and Four Fields LLC, entities controlled by Tim Schnell of Oceanside. The seller was a unit of Providence Capital Group of Encinitas.

The 51,571-square-foot Carlsbad Pacifica Development at 5050 Avenida Encinas in Carlsbad has been sold for $10.54 million.

The buyers were Amigas Investments LLC and Four Fields LLC, entities controlled by Tim Schnell of Oceanside.

The seller was a unit of Providence Capital Group of Encinitas.

The buyer took out a $5 million Morgan Stanley Bank loan to purchase the 1986-vintage property that was last renovated in 1992, according to The CoStar Group.

The buyers were re...

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