At the height of the financial crisis in 2009, Interwest negotiated the purchase of a $55 million nonperforming loan at a deep discount from a national bank—just before the bank’s insolvency. The loan was secured by Monarch at Scripps Ranch, a prized Class A multifamily asset in an affluent part of northeast San Diego. The luxury apartment community, nestled in the heart of highly desirable Scripps Ranch, is considered one of the best places to live in all of California.
OPPORTUNITY
Recognizing the incredible value of the property, we knew it was critical to move quickly and time the sale with the upswing of the market to maximize returns.
