By Sean Gallagher

As published in The San Diego Daily Transcript, July 5, 2006

Coldwell Banker Commercial-Almar Real Estate Group reported Thursday it has facilitated the sale of Creekside Meadows Apartments in Alpine for $16,140,000.

Creakside Meadows, a Cape Cod-style apartment community for seniors, is located at 1750 Arnold Way. Constructed in 1986, the 14.05-acre community encompasses a total of 18, two-story residential buildings containing 144 units, a swimming pool and two spas, a recreational clubhouse, carports and laundry facilities.

Tom Olson and Ron Beck of Coldwell Banker Commercial represented the seller, Alpine Creek Company II, while the buyer, Alpine Creekside, LLC was represented by Tony Albin of Colliers International.

"We have seen tremendous growth in our multi family sales division, highlighted by Tom Olson's $84.5 million sale of the Villages of La Mesa and Lou Bulte's $28.6 million sale of the Oakwood Mission Valley Apartments," said Alan Scott, president of Coldwell Banker Commercial-Almar Real Estate Group.

Financing services for this transaction were provided by John Hancock, Life, Inc., and Stewart Title Company provided the property title.

Snapshot: Coldwell Banker Commercial
Almar Real Estate Group
3655 Nobel Drive, Suite 200
San Diego, CA 92122
Phone: 858-200-8888
Fax: 858-200-8889
Web: http://www.coldwellbankercommercial.com/

Business Summary

A leader in the commercial real estate industry, Coldwell Banker Commercial was founded in 1906 after a devastating earthquake in San Francisco. For 100 years, CBC has maintained its original, principled vision of providing honest and exceptional service to its clients.