SAN DIEGO, CA – HFF announces the $4.4 million sale of 326-340 Palomar Avenue, an eight-unit, garden-style apartment community in La Jolla, California.
The HFF team represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The investor’s legal representation was provided by the law offices of J. Geoffrey Barry, Esq.
326-340 Palomar Avenue is located in the prestigious La Jolla neighborhood, just off La Jolla Boulevard near Bird Rock and Windansea Beach and less than 15 miles north of San Diego’s CBD via Interstate 5. Originally built in 1965, the property features exclusively two-bedroom units averaging 850 square feet. 326-340 Palomar was 100 percent occupied at closing.
The HFF investment advisory team representing the buyer consisted of senior director Hunter Combs and senior associate Trent Jemmett.
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.