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Real Estate/Development

Apr. 4, 2017

American Assets to acquire Pacific Ridge Apartments for $232M

Pacific Ridge features a variety of floorplans, from studios to three-bedroom layouts with sizes ranging from 732 square feet to 1,407 square feet.

American Assets Trust, Inc. has entered into a purchase agreement to acquire the 533-unit Carmel Pacific Ridge Apartments in Linda Vista for $232 million.

The property, which is across the street from the University of San Diego at 5945 Linda Vista Road, is approximately 97 percent leased.

Carmel Partners, which finishing building the complex in 2013, is the seller.

Pacific Ridge features a variety of floorplans, from studios to three-bedroom layouts. Units range in size fro...

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