SAN DIEGO DAILY TRANSCRIPT
Real Estate Briefs
Tuesday, July 16, 2013
The Bluffs, the 68,600-square-foot office building in Rancho Bernardo at 16870 W. Bernardo Drive, San Diego 92127, has been sold for $18 million. The property is currently fully occupied.
The buyer was OF 13 Bluffs LLC, c/o Davlyn Investments, a California multifamily and commercial property investment firm, 12625 High Bluff Drive, Suite 315, San Diego 92130. OF 13 Bluffs CE LLC is the managing member of the buyer, and OF 13 Bluffs CE MM LLC is the managing member of OF 13 Bluffs CE. Paul G. Kerr is the managing member of OF 13 Bluffs CE MM. Jon Williams is CEO, and Davlyn and John Hale serve as director of office acquisitions.
The acquisition was financed with a loan of $12.2 million provided by Michael Atkins, of Bank of America (NYSE: BAC). The Bluffs is Davlyn's sixth office property