Woodbend Shadowridge Sells For $44.3 Million

Cushman & Wakefield today announced the sale of Woodbend Shadowridge, a 20-building apartment complex located at 1500 Shadowridge Drive, Vista, 92081 (parcel number 217-460-11-00), sold for $44,300,000. The seller was Shadowridge Corporation, C/O LaSalle Investment Management, represented by Edward Rosen, John Chu, and Alejandro Lombrozo of Cushman & Wakefield. 

The buyer was Woodbend, LP, C/O R&V Management Corporation. Built in 1988, the 210,800 square foot property was renovated in 2008-2010. The two-story complex has 240 units total, consisting of 124-one bedroom, one-bathroom units, 44-two bedroom, one-bathroom units, and 72-two bedroom, two-bathroom units. There are 397 covered parking spaces.

Woodbend Shadowridge is located within the Shadowridge master planned community. The parcel is 14.91 acres. The property boasts a green globe certification, tech center, fitness center, recreation room, basketball court, playground, covered parking, outdoor fireplace, and a swimming and spa area with cabanas.