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H.G. Fenton pays $71.5m for Sabre Springs apartments.

Publication: San Diego Business Journal
Publication Date: 25-APR-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: H.G. Fenton pays $71.5m for Sabre Springs apartments.(REAL ESTATE)

Article Excerpt
It has been difficult during the last few years for San Diego-based H.G. Fenton to find an apartment building worth buying, according to its president and chief executive officer, Mike Neil.

The company--a private real estate owner and developer based in Mission Valley with more than 2,000 residential units and more than 3 million square feet of industrial, warehouse and office space in its entirely San Diego-based portfolio--has been forced to compete with aggressive condominium converters snatching up apartment buildings to convert into for-sale condos at a persistent pace, said Neil.

As a result, although Fenton booked roughly $150 million in investment property transactions, both buying and...

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