The multifamily community known as Sage Apartments, located at 1920 and 1960 E. Grand Ave in Escondido, California, has been sold for $34.7 million. The property spans 86,748 square feet and consists of 137 units offering a mix of one- and two-bedroom layouts. Clear Sky Escondido LP sold the asset to Subsidiaria de Santa Jacinto LLC at a rate of $253,285 per unit.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $34,700,000.00
• Address: 1920 E Grand Ave, Escondido, CA
• Market: Escondido
• Seller's Rep: Peter Scepanovia (Colliers International)
• Buyer: Unknown
• SF: 86,748

Peter Scepanovia and Corey McHenry, part of Colliers International San Diego Region’s Multifamily Advisory Group, were the representatives for the seller in the transaction. The property, dating back to the 1970s, underwent several interior and exterior upgrades in the last three years. With the completion of the sale, the new owner, Subsidiaria de Santa Jacinto LLC, plans to further enhance the property through additional upgrades and renovations.