Updated Mar 17, 2025
Griffis Residential Acquires Multifamily Property In San Diego For $155.7M
1440 Hotel Circle North, San Diego, CA, USA
$155,700,000
$513/SF
Building Size
303,178 SF
Asset Type
MultiFamily
Closing
May 3, 2021
About this deal
AI
In a recent closed transaction in San Diego's multifamily market, Griffis Residential acquired a property located at 1440 Hotel Circle North for a sale price of $155,700,000. The asset, consisting of 350 units, was sold by AEW. The transaction took place on May 4, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $155,700,000
- Address: 1440 Hotel Circle North
- Market: San Diego
The buyer, Griffis Residential, acquired the property from the seller, AEW. The deal was facilitated by brokers Dean Zander, Kevin Mulhern, and Stew Weston.
Players
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $513 per square foot on a published $155.7M for 303,178 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93