Oceanside CA– The San Diego office of Colliers International announces the sale of a 28 acre parcel of land with approved plans for Terraza, a 338-unit luxury apartment development, for $25,000,000. The property is located on the northwest corner of College Avenue and Old Grove Road, Oceanside, CA (92056) in the Rancho Del Oro master-planned community.
Gunder Creager, David Santistevan, and Ciara Layne-Trujillo of Colliers International represented the seller, RDO Village Investment, LLC, and the buyer, Presidio Cornerstone Master, LLC.
Terraza will be comprised of one bedroom/one bathroom, two bedroom/two bathroom, and three bedroom/two bathroom units with many high-end amenities.
“There is a scarcity for large, luxury multifamily development sites in the Highway 78 Corridor,” said Gunder Creager, Senior Vice President of Colliers International, “Terraza is the last remaining undeveloped residential site in Rancho Del Oro and presents an extraordinary infill opportunity in a premier master-planned community.”