Bridge Investment Group Acquires Multifamily In San Diego For $86.65M
SOLD
$86,650,000
California
See Similar DealsMultiFamily15,275 SF
Sold 10/14/2021
SOLD
Bridge Investment Group Acquires Multifamily In San Diego For $86.65M
1237 Graves Ave, El Cajon, San Diego, CA, USA
See Similar DealsMultiFamily15,275 SF
Sold 10/14/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$5,672
Total Square Footage:15,275 SF
Transaction Type:Sale
The multifamily property located at 1237 Graves Ave. in San Diego has been sold in a transaction valued at $86,650,000. The property consists of 277 units, with an average price per unit of $312,815.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $86,650,000
- Address: 1237 Graves Ave.
- Market: San Diego
- Seller: R & V Management
- Buyer: Bridge Investment Group
- Brokers: Ed Rosen, John Chu & Tyler Sinks - Berkadia San Diego
The sale was facilitated by Ed Rosen, John Chu, and Tyler Sinks from Berkadia San Diego. Their expertise contributed to the successful completion of the transaction. The sale of the 277-unit multifamily property not only highlights the thriving real estate market in San Diego but also represents a significant investment opportunity for the buyer, Bridge Investment Group.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,621,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$307,849.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$410,765.21
Annual Debt Service$4,929,182.48
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