GID Real Estate Investments Acquires Millenium PQ Multifamily Complex From The Dinerstein Companies For $167M
14433 Peñasquitos Drive
$167,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 18, 2024
AI
The 331-unit Millenium PQ multifamily complex is located at 14433 Peñasquitos Drive in the San Diego market. The sale was completed for $167 million, equating to a price per unit of $504,532.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $167,000,000
- Units: 331
- Buyer: Gregory S. Bates - GID Real Estate Investments
- Seller: Brian Dinerstein - The Dinerstein Companies
- Broker: Hunter Combs - Walker & Dunlop
This transaction marks the second-largest single-asset deal in California and the fifth-largest nationwide in 2024. Hunter Combs represented the seller in this significant multifamily transaction.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93