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Robert Morse And Jonathan Slager Acquire Santa Fe Ranch Apartments In Carlsbad For $138.75M

Property Image
SOLD
$138,750,000
Robert Morse
Jonathan Slager
William (Bill) Huffman
+ 1

California

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MultiFamily
Sold 04/23/2025
the dealplayerscompscontact
Property Image
SOLD

Robert Morse And Jonathan Slager Acquire Santa Fe Ranch Apartments In Carlsbad For $138.75M

MultiFamily
Sold 04/23/2025
Robert Morse
Jonathan Slager
William (Bill) Huffman
+ 1
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Transaction Type:Sale

The 320-unit Santa Fe Ranch apartments, located at 7702 Calle Caracas in Carlsbad, were sold for $138.75 million, equating to $433,594 per unit. The property spans 20.4 acres and is situated in a high-barrier market within Southern California.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $138,750,000
  • Units: 320
  • Price Per Unit: $433,594
  • Seller: Bill Huffman - Nuveen
  • Buyer: Robert Morse & Jonathan Slager - Bridge Investment Group
  • Broker: Jake Barnett - Walker & Dunlop

This transaction reflects the collaboration between noted individuals and companies, with Bill Huffman representing Nuveen as the seller. The buyers, Robert Morse and Jonathan Slager, are associated with Bridge Investment Group, while Jake Barnett of Walker & Dunlop served as the broker facilitating the deal.

Players

Jake Barnett
Walker & Dunlop
Jake Barnett
1 deal$138.8M volume(407) 406-3789
BROKER
William (Bill) Huffman
Nuveen
William Huffman
24 deals$2B volume
SELLER

Details

SOLD
IMAGE: Robert Morse, Jonathan Slager, Bill Huffman & Jake Barnett DATE: 04/23/2025 ADDRESS: 7702 Calle Caracas MARKET: Carlsbad ASSET TYPE: Multifamily ~ ACRES: 20.4 BUYER: Robert Morse & Jonathan Slager - Bridge Investment Group (@Bridge.CRE) SELLER: Bill Huffman - Nuveen (@Nuveeninv) BROKER: Jake Barnett - Walker & Dunlop (@WalkerDunlop) SALE PRICE: $138,750,000 UNITS: 320 ~ PPU: $433,594 NOTE: Bridge Investment Group bought the 320-unit Santa Fe Ranch apartments in Carlsbad from Nuveen for $138.75M ($433,594/unit). The 23-year-old complex at 7702 Calle Caracas spans 20.4 acres and offers immediate scale in a high-barrier Southern California market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$492,949.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$657,745.79
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