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Coronado Bay Club Conversion

Author: Diana Heeb Bivona

GlobeSt.com is reporting that Watt Genton Associates is converting the new 346-unit Coronado Bay Club luxury apartment complex here to condominiums. A $40-million bridge loan for the conversion of the 85%-leased property to condominiums has been arranged. It is speculated that the escalation in housing prices and the lag in apartment rents are providing financial incentives to developers to convert rather than operate apartments.

This entry was posted on Friday, June 2nd, 2006 at 6:08 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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