Conrad Prebys acquires El Cajon apartment complex for $17 million

June 17, 2024 – Our town took a magical trip down memory lane today. The Model T Ford Club of America rolled into town for their 2024 National Tour. 

Dozens of these magnificent Model T’s lined our streets. It felt like stepping back in time.

The visitors took a stroll through our town’s rich history, from the old Lakeside Inn, the Auto Speedway route, made famous by racing legend Barney Oldfield, to our charming historic buildings and homes.

The Lakeside Historical Society opened their doors, welcoming everyone to explore the chapel, museum, Gift Shop, and the Speedway monument. It was a little slice of the past brought back to life.

Their visit was short, but the memories will last a lifetime. A huge thank you to the Model T Ford Club of America for stopping by and making the day in our hometown so special.

Woodglen LLC, a California limited liability company with Conrad Prebys as manager, has purchased the Woodglen Apartments ,a two-story, 160-unit garden-style complex at 12905 Mapleview St., Lakeside. The purchase price was $17,482,500. The acquisition included the assumption of a November 2005 loan, with an original and outstanding balance of $11,802,000. The seller of the property was Efren R. Cota, Ltd., a California limited partnership, with Raebo LLC as its general partner. Gary Edwards is the manager of Raebob. CBRE’s (NYSE: CBG) Eric Comer, Jim Neil and Merrick Matricardi, along with Bob Cota Realty, represented the seller. The apartments total 137,800 square feet and were constructed in 1987 on a 5.77-acre lot. The property was sold in April 2002 for $13.1 million, with financing of $9.75 million. According to CBRE, other apartment complexes that Prebys has acquired recently in El Cajon include the 96-unit Countryside Villas, the 156-unit Tierra Del Sol Apartments, and a 34-unit complex at 275 Ballantyne St.