Hillcrest apartment building sells for $37.4 million

The former Sommerset Suites Hotel was turned into the Warwick luxury apartment building. It is located next to Scripps Heath Mercy Hospital.

A former hotel converted into luxury apartments in Hillcrest sold this week for $37.4 million.

Orange County-based Spectrum Partners bought the property from SENTRE, a San Diego-based real estate investment firm, which acquired it in 2017 for $19.5 million.SENTRE made substantial improvements to the site to convert it into apartments. Improvements to the building were assessed by San Diego at $15.3 million last year, or $191,708 per unit.

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