SARES•REGIS Multifamily Value-Add Fund III, L.P. (SRMF VA-III) announces the acquisition of LIT Cortez Hill on June 11, 2021.
LIT Cortez Hill is located just off 10th Avenue at the State Route 163 and Interstate 5 interchange. It offers residents immediate access to the UTC, Kearny Mesa, Mission Valley job corridors, and San Diego International Airport, and the neighboring communities of Hillcrest and North Park. The property features 299 units in a fifteen-story high-rise building comprised of six different studio, one-bedroom, and two-bedroom floorplans, as well as “penthouse” units. Community amenities include a pool, full-size basketball court, tennis court, fitness center, and resident lounge.
SRMF VA-III has created a “value-add” program that will allow LIT Cortez Hill to provide an upscale lifestyle at an attractive price point in the desirable city of San Diego.