Montecito Crossings LLC, based in Jacksonville, FL, purchased the 168-unit apartment complex at 1441 Santa Lucia Road in Chula Vista, CA. Lyon Otay Ranch LLC, based in Newport Beach, CA, sold the complex for $44 million, or $261,904 per unit. The buyer plans on converting the units to condos for individual resale. The complex consists of 70-one bedroom units, 70-two bedroom units and 28-three bedroom units.