**CBRE Arranges Sale of Family-Owned Clairemont Apartments**
CBRE has facilitated the sale of Genesee Park, a residential community located at 3625 Earnscliff Place in San Diego, to American Assets Trust. The transaction was handled by CBRE’s Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, Chris Tresp, and Kenji Thomas on behalf of the seller, Hess Genesee Park LLC. The sale price was not disclosed.
“Genesee Park is a true jewel – owned and operated by the same family for 40 years, the property represented an exceptionally rare opportunity to acquire a sizeable, low-density, and essentially untouched 1980s asset that has been well-maintained,” said Parsons. “As a result, the offering generated unprecedented interest and was sold to a San Diego-based investor.”
Located in the coastal community of Clairemont, Genesee Park is just four miles from Mission Bay and the beaches, with proximity to some of San Diego’s major job corridors. Built in 1985, the community consists of six buildings featuring three stories of residential units above a gated on-grade garage level.
