Colliers International brokered the sale of the 88-unit Flower Hill apartments in Oceanside, Calif.
The value of the transaction was $17.9 million.
The property, located at 506 Canyon Drive, comprises 94,624 square feet on 7.69 acres. It consists of two- and three-bedroom units and 88 one-car garages built in 1977.
506 Canyon LLC purchased the property from Granite Oceanside LLC. The buyer plans to convert the property to for-sale condominiums. Renovation is scheduled to commence first quarter of 2005.
Colliers International is a provider of commercial real estate services.
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