29th Street Capital Sells 240-Unit Sunterra Apartment Community In Oceanside For $77.5M

The 240-unit Sunterra apartment community, located at 3851 Sherbourne Drive in Oceanside, CA, was acquired for $77.5 million. The multifamily property spans approximately 14.2 acres and was built in 1975, with around 70% of the units renovated. The transaction reflects a price per unit of $322,917.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $77,500,000
• Address: 3851 Sherbourne Drive
• Market: Oceanside, CA
• Units: 240
• Price Per Unit: $322,917
• Seller: Stan Beraznik - 29th Street Capital
• Brokers: Rachel Parsons, Derrek Ostrzyzek, Mike Murphy & Kenji Thomas - CBRE
• Mortgage Brokers: James C. Flinn & Justin Fitchett - CBRE

CBRE's team represented the seller during the transaction, providing critical support through the involvement of James C. Flinn and Justin Fitchett in facilitating debt and finance options. This acquisition marks a significant transaction in the multifamily market under the representation of notable agents in the property sector.