SAN DIEGO – May 10, 2019 – Berkadia today announced the $149 million sale of Hanover Mission Gorge, a 374-unit multifamily property located at 4440 Twain Ave. in San Diego. Managing Directors Ed Rosen and John Chu and Director Tyler Sinks of Berkadia’s San Diego office facilitated the transaction on behalf of the seller, Houston-based Hanover Company. The buyer was Mission Gorge Investors, L.P. controlled by San Diego-based R & V Management, and the deal closed on April 30.
“This asset has the highest quality design and craftsmanship,” said Rosen. “The property is a crown-jewel born of one of the most premiere, well-regarded and highly respected multifamily developers, The Hanover Company.”
Built in 2018, this recently constructed luxury community features studio, one-, two- and three-bedroom open floor plans with granite countertops, stainless-steel appliances, walk-in closets, private terraces and wood-style flooring. The property offers a true five-star amenity package reflecting its “best in class” multifamily offerings in the submarket. A resort-style pool with luxury cabanas, open-air loggias with TVs and fireplaces, a 24-hour professional fitness center with professional Technogym equipment, a clubhouse with a kitchen and a billiards table, and NEST learning thermostats are amongst the amenities at Hanover Mission Gorge. The community is also centrally located to all major San Diego freeways including Interstates 8, 15, 5, 805 along with State Routes 163 and 52. This convenient and central location offers easy access to North Park’s Gastro Pubs, Downtown’s Gaslamp, and the entirety of San Diego.