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March 15, 2012

The Sanctuary

Half the units at The Sanctuary are sold, according to the court-appointed receiver, Resource Transition Consultants. The 12-unit project is in the former First Church of Christ, Scientist on Capitol Hill. The first closings are anticipated next week, and other sales contracts are being negotiated. The project was relaunched in January, and asking prices were cut by 45 percent. Prices range from $500,000 to $1.1 million. The original note on the conversion was sold a year ago and the new lenders, led by an affiliate of San Diego-based Pathfinder Partners, invested another $1.5 million to complete the project.




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