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Greystar Sells Downtown San Diego Residential Tower for $309M

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Greystar Sells Downtown San Diego Residential Tower for 9M


A sprawling residential plaza in downtown San Diego has traded hands in one of the largest apartment deals in the city’s history.

Greystar sold the 718-unit San Diego residential plaza, which includes a 35-story high-rise and two mid-rise buildings, for $309 million to MG Properties. The deal is the third-largest apartment deal in the city’s history, and is the biggest sale there since 2020, according to MG. The property, dubbed Park 12 – The Collection in Downtown San Diego, also contains 43,000 square feet of retail space. The tower’s most recent assessed value was for $264.2 million, per property records.

SEE ALSO: BH Group Pays $84M for Aging Waterfront Rental Buildings on North Bay Village

Eastdil Secured’s Joseph Smolen and Geoff Boler represented Charleston, S.C.-based Greystar in the deal, while MG Properties represented itself. Eastdil’s Greg Stampley and Lee Redmond arranged $168 million in Fannie Mae (FNMA) financing for the purchase, according to a MG Properties spokesperson. 

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Greystar built the 438-unit tower, at 100 Park Plaza, in 2018 within the Ballpark Village master-planned neighborhood adjacent to Petco Park, the San Diego Padres’ professional baseball stadium. The two mid-rise buildings, at 101 Park Plaza and 201 Park Boulevard, were completed around the base of the tower the following year, together totaling 280 units. 

“As a San Diego-based company, we are very familiar with the dynamics of the city and believe it has tremendous opportunity for growth in the coming years,” Jeff Gleiberman, president of MG Properties, said in a statement. “We believe this is an exceptional opportunity to acquire one of San Diego’s most iconic properties.”

Representatives for Greystar did not immediately respond to requests for more information. 

MG was recently involved in one of the largest multifamily sales across California in 2024 as well, though as the seller. The company in December sold Preserve at Melrose, a 410-unit complex in Vista, about 42 miles north of Downtown San Diego, to Mesirow for $185 million. MG had acquired the property in 2017 from Trammell Crow for $134 million.

Nick Trombola can be reached at ntrombola@commercialobserver.com.

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San Diego, CA

Home damaged by fire in Carmel Valley

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Home damaged by fire in Carmel Valley


Two families were displaced from their Carmel Valley townhome after it went up in flames earlier this afternoon. 

This happened just before 3 p.m. on Moratalla Terrace.  Fire investigators said the fire started inside a garage unit because of faulty electrical equipment and robotics projects.  One neighbor said she’s thankful for the quick response.

“The people that own the house were in the driveway calling 911, and within, I think within five minutes of me smelling the smoke the fire trucks were here,” said Nikki Briggs.  I’m just thankful that everyone was okay, and that it didn’t keep spreading.  Like if it would have been a wildfire, that would have been terrible.”

Firefighters say most of the damage was contained in the garage.  A total of nine people were displaced by the fire.  Five people lived inside the unit that burned.  Thankfully all of them made it out safely without any injuries.

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Gossamer Bio Receives ‘Hold’ Rating from Analysts – San Diego Today

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Gossamer Bio Receives ‘Hold’ Rating from Analysts – San Diego Today


Shares of Gossamer Bio, Inc. (NASDAQ:GOSS) have received a consensus ‘Hold’ rating from the 10 research firms currently covering the company, according to a report from MarketBeat. The average 12-month price target among analysts is $5.43.

Why it matters

Gossamer Bio is a clinical-stage biotech company focused on developing therapies for immune-mediated and inflammatory diseases, as well as oncology. The ‘Hold’ rating and mixed analyst views could impact investor sentiment and the company’s ability to raise capital for further drug development.

The details

The analyst ratings for Gossamer Bio include two ‘Sell’ recommendations, four ‘Hold’ ratings, and four ‘Buy’ recommendations. Some firms have lowered their price targets on the stock, with HC Wainwright decreasing its target from $10 to $5.

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  • Gossamer Bio released its latest quarterly earnings report on March 17, 2026.

The players

Gossamer Bio, Inc.

A clinical-stage biopharmaceutical company headquartered in San Diego, California that is focused on developing oral, once-daily therapies for immune-mediated and inflammatory diseases, as well as oncology.

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The takeaway

The mixed analyst views on Gossamer Bio highlight the challenges facing the company as it seeks to advance its pipeline of drug candidates through clinical trials and regulatory approvals. The ‘Hold’ rating could make it more difficult for the company to raise capital and fund its operations.





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Lifeguards recover body of man believed to have drowned in Oceanside

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Lifeguards recover body of man believed to have drowned in Oceanside


Oceanside Harbor Beach. (File photo courtesy of @CityofOceanside via X)

A man apparent drowned in the waters near the Oceanside Pier Saturday morning, despite efforts by lifeguards and paramedics to revive him.

The Oceanside Fire Department’s Lifeguard Division and the Oceanside Police Department responded to a report of a missing man at about 4:30 a.m.. Officials said the man was last seen swimming in the ocean about a half-hour earlier.

Lifeguards and police immediately initiated a coordinated search effort using pier vantage points, surveillance cameras and watercraft, but the search was suspended at approximately 5:30 a.m. after no one was found, fire officials said.

“At approximately 10:50 a.m., lifeguards discovered an unresponsive adult male, matching the earlier description, in the water near Lifeguard Tower 12, at Oceanside Harbor Beach,” Division Chief Blake Dorse said in a statement. “The individual was removed from the water, and cardiopulmonary resuscitation was immediately initiated.”

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Fire and rescue personnel continued efforts to resuscitate the man on the way to a hospital, where he was pronounced dead. He is believed to be the one who was reported missing near the pier.

Authorities did not release the man’s name.

“The Oceanside Lifeguard Division reminds the public to exercise caution when entering the ocean, especially during early morning hours or when lifeguards are not actively monitoring the water,” Dorse said. “Always swim near an open lifeguard tower and avoid entering the water alone.”

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