SAN DIEGO — American Assets Trust has acquired Genesee Park in San Diego for an undisclosed price. The seller, Hess Genesee Park LLC, was represented by CBRE’s Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, Chris Tresp, and Kenji Thomas who also arranged the sale. The 192-unit Genesee Park was built in 1985 and has had one owner. According to Parsons, the community is an “essentially untouched 1980s asset that has been well-maintained.”
The community consists of six buildings, each configured with three stories of residential over one level of gated parking. Units are a mix of one-, two- and three-bedroom floor plans. Each unit includes an outdoor balcony. The property also has a deck area with a pool, hot tub, lounge seating and outdoor dining tables.