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.
On the Map
$155,700,000
$513/SF
MultiFamily
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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