MIXED-USE DEVELOPMENT SITE SOLD FOR $7.7M

Amprop Northpark, LLC, an affiliate of American Property Enterprises (“the Company”), has sold a 1.5 acre fully entitled mixed-use site called “The Boulevard at North Park” for $7.7 million. The Company had assembled 8 contiguous parcels owned by 5 separate owners and obtained entitlements for a mixed-use 180 unit residential development with ground floor retail space. The site is located at 2030 El Cajon Blvd in the North Park community of San Diego. The H.G. Fenton Company, based in San Diego, was the buyer. The buyer plans to construct and develop a mixed-use luxury apartment project at the site. Both the seller and buyer were represented in the sale transaction by Victor Krebs and Gunder Creager of Colliers International. American Property Enterprises is a 30 year old San Diego-based company with investment, development, and management capabilities in residential and commercial properties. For more information, please visit http://www.propertyenterprises.com.

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