Sale of Trophy San Diego Multifamily Property Completed by Walker & Dunlop Investment Sales
Oct 19, 2020, 06:35 ET
BETHESDA, Md., Oct. 19, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it completed the sale of Valentina by Alta, a 110-unit newly constructed apartment community in the highly-coveted Little Italy neighborhood of San Diego, California.
Little Italy, which has been coined "Top Chef Alley," has emerged as one of San Diego's most sought-after neighborhoods, with top-rated restaurants, bars, and coffee shops. The location provides excellent accessibility to six major freeways and is 15 minutes away from San Diego's top employment hubs. Additionally, Valentina by Alta is within walking distance of Kilroy Realty's new 220,000 square-foot office project on Kettner Boulevard, as well as IQHQ's planned 1.6 million square-foot waterfront life science campus.
Walker & Dunlop's property sales team included Hunter Combs, Greg Engler, and Blake Rogers. The team represented the seller, Wood Partners, serving as broker and advisor for the disposition. Said Mr. Combs, "We were thrilled to have played a part in the sale of this trophy asset to TA Realty." He added, "Wood Partners exceeded expectations on Valentina with condo-quality finishes, top-notch amenities, permanently unobstructed bay views, as well as excellent performance throughout the lease-up. Clearly investors agreed, as there was significant local, regional, and national interest."
Completed in the summer of 2019, Valentina by Alta is a best-in-class asset and boasts over 15,000 square feet of amenity space. Community amenities include a pool and pool house, sky and bay terraces, a fitness center with yoga and spin studios, electric vehicle charging stations, surfboard and bike storage, as well as a weekly happy hour.
Walker & Dunlop is a top-ranked multifamily lender; the firm was the largest Fannie Mae DUS® multifamily lender and the 3rd largest Freddie Mac Optigo® multifamily lender by volume in 2019. The company has also achieved dramatic growth in its property sales group, with $5.4 billion in sales volume completed in 2019.
For information about Walker & Dunlop's view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our new Driven by Insight information center.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
About TA Realty
TA Realty is among the largest and most experienced providers of real estate investment management services to U.S. and non-U.S. institutional investors. Since its inception in 1982, TA Realty has managed more than $30 billion of real estate assets through value-add and core strategies and customized separate/advisory accounts. TA Realty's investment philosophy focuses on creating diversified real estate portfolios that aim to generate strong cash flow, receive intensive asset management and seek to achieve long-term value creation. For more than three decades, TA Realty has maintained this philosophy through multiple real estate and economic cycles, a strength recognized by pension funds, endowments, foundations and high net worth individuals. For more information please visit www.tarealty.com.
SOURCE Walker & Dunlop, Inc.
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