CARLSBAD PARCEL WILL SUPPORT DEVELOPMENT OF LUXURY RENTALS
By: Paul Bubny
July 17, 2023
Marcus & Millichap closed the sale of a 0.72-acre parcel of land located in Carlsbad. The asset sold for $2,500,000.
Aaron Bove, senior managing director in Marcus & Millichap’s San Diego Del Mar office, marketed the property on behalf of the seller, BNR Investment & Development, LLC. The buyer, MK Management Group, LLC, was also procured by Bove.
“The project, with its thoughtfully designed layout and its desirable location, has the potential to become an iconic landmark, making a lasting impact on the community and its residents,” said Bove.
Delivered permit-ready, the project was entitled for 23 build-to-rent luxury apartment homes in the La Costa neighborhood on Romeria Street. Construction should begin later this year.