San Francisco–based Prime Residential has purchased Agave Ridge, a 369-unit townhome property located in San Diego’s Kearny Mesa neighborhood. The financial terms were not disclosed; however, it is estimated to be $107 million, according to media outlets.
The seller was Los Angeles–based Goldrich & Kest.
“Agave Ridge is an incredibly well-located community with all townhouse-style units that provide much-needed housing for families in the area and has become even more desirable with the approval of the recently updated Kearny Mesa Community Plan,” said Kevin Mulhern of CBRE, which represented the seller.
Built in 1959, the 368,575-square-foot complex is south of the interchange of Interstate 805 and State Route 163 adjacent to Sharp Hospital and Rady Children’s Hospital. Amenities include playgrounds, pools and a fitness center.
