PREF Art Block and its affiliates have acquired Art Block from Carleton Management and the Bishop family for $34 million. The property consists of five mixed-use buildings totaling approximately 143,000 square feet and occupies an entire city block in downtown San Diego’s East Village. The site is bounded by Park, 13th, F and G Streets and adjacent to the planned East Village Green Park. The NewSchool of Architecture and Design is the property’s largest tenant.

Paragon is a privately-held real estate investment company, led by Messrs. Roberto Jinich, Ricardo Jinich and Dan Berkus. The Firm manages a growing portfolio of stabilized assets through its flagship fund, Paragon Real Estate Fund. The Fund seeks to acquire high quality urban retail and mixed-use real estate throughout the United States.