This 10 acre site is on the north side of Friars Road across from San Diego County’s largest regional mall (Fashion Valley Center) and shares the traffic signal to the mall’s main entrance.  It is zoned CO (Commercial Office) and, over several years, was considered for development of various uses including large office buildings and retail uses.

Competing against 32 other prospective buyers, AMERICAN PROPERTY ENTERPRISES agreed in 2001 to purchase the 300 unit River Colony Apartments in central San Diego for $46,520,000. Originally built in 1991 as 1 and 2 bedroom condo flats, the property had been rented as apartments from the outset because of the local real estate recession of the 1990’s.