Richard Boynton Of Fairfield Residential Acquires Resort At Encinitas Multifamily For $109.99M

The property asset involved in the transaction is a 198-unit multifamily community located at 1320 Via Terrassa in Encinitas. The sale occurred for a total of $109.99 million, equating to approximately $555,505 per unit. The community, known as the Resort at Encinitas, features units that include up to three bedrooms and offers resort-style amenities, catering to the growing demand for stabilized coastal multifamily properties in the San Diego County market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $109,990,000
• Units: 198
• Price per Unit: $555,505
• Buyer: Richard Boynton - Fairfield Residential
• Seller: Marshall Boyd - Interstate Equities Corp.
• Broker: Kidder Mathews

Key individuals in this transaction include Richard Boynton, representing Fairfield Residential, and Marshall Boyd of Interstate Equities Corp., the seller. The transaction underscores the interest in multifamily investments within the San Diego area, characterized by upscale features and amenities accommodating the modern tenant lifestyle.