Moller Otay Lakes Investment LLC, a Delaware limited liability company, has purchased 867 acres of residential land near Jamul for approximately $21 million, according to real estate services provider Land Advisors Organization, which represented the seller.
The unincorporated South County site off Otay Lakes Road, known as Otay Ranch Village 13, Area A, consists of approximately 1,000 single-family lots split between multiple tract maps.
The seller was Otay Village (San Diego) ASLI V, LLP, a Delaware limited liability partnership, represented by David Landes and Greg Vogel of Land Advisors Organization.
The buying entity represented itself. The acquired land is being planned for single-family detached lots, expected to complement higher-density product being planned in other competing villages in the vicinity, Landes said.