San Diego High-Rise Sold to K. Hovnanian

Santa Monica developer Watt Commercial Properties sold a high-rise condominium project it recently completed in downtown San Diego to K. Hovnanian Cos. of California for $106 million.

The Acqua Vista complex includes 382 units in twin 18-story towers, connected by five- and eight-story buildings with two interior courtyards. It covers an entire block in the city’s Little Italy district.

Watt’s financial partner in the project was Fidelity Management Trust Co. on behalf of institutional funds and accounts it manages.

Irvine-based K. Hovnanian is a subsidiary of Hovnanian Enterprises Inc. of Red Bank, N.J.

-- Roger Vincent