Updated Sep 30, 2025
Brian Kingston & Bruce Flatt Acquire Multifamily Asset In San Diego For $312.5M
1281 9th Avenue
$312,500,000
Units
679
Asset Type
MultiFamily
Closing
Feb 22, 2021
About this deal
AI
Brian Kingston, Sam Zell, and Bruce Flatt have completed a multifamily property sale in San Diego. The property is located at 1281 9th Ave.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $312,500,000
- Market: San Diego
- Buyer: Brian Kingston & Bruce Flatt - Brookfield Asset Management Inc.
- Seller: Sam Zell - Equity Residential
- Brokers: Kidder Mathews
- Units: 679
- Price per Unit: $460,235
The buyers, Brian Kingston and Bruce Flatt from Brookfield Asset Management Inc., purchased the property from the seller, Sam Zell of Equity Residential. The sale was facilitated by the brokers from Kidder Mathews.
On the Map
$312,500,000
MultiFamily
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Players
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93