Konyn Ranch LLC
27634 Valley Center Road, Valley Center, CA
The 65.5 acre Konyn Ranch was previously a dairy and was most recently used to grow sunflowers. The property is located in a semi-rural area of North San Diego County that is experiencing a transition to a more suburban community. . The property was designated Village Core Mixed Use in the recently adopted San Diego County General Plan. The Seller was a partnership made up of the beneficiaries of the trusts of the original founder and family operator.
In order to achieve the highest value for the Seller, the property had to be sold contingent upon the Buyer’s receipt of entitlements. Additional challenges included the need to secure access to waste water treatment capacity and a loan that was maturing prior to the anticipated close of escrow.
An extensive marketing effort produced multiple proposals. The Land Advisory Group identified a developer with the capability and a track record to complete the entitlement process. The transaction was structured to provide sufficient time to complete the project approvals and allowed the seller to continue to generate revenue from the ongoing farming operation. The team negotiated extensions of the existing loan, resolved longstanding title issues, navigated unique issues that resulted from 30+ years of dairy operations, maintained oversight of the developer’s progress, and engaged in the public hearings as an advocate for the property owner.
The Master Development Plan for 311 residential units (SFR and Multifamily) and 55,000 square feet of commercial space was approved in just over 4 years. The transaction was completed and the Seller achieved maximum value for the property based on entitlements.