Colin Apple Of Bridge Investment Group Acquires Carlsbad Multifamily From Sean Gulian Of Nuveen For $138.75M
SOLD
$138,750,000
California
See Similar DealsMultiFamily274,688 SF
Sold 04/07/2025
SOLD
Colin Apple Of Bridge Investment Group Acquires Carlsbad Multifamily From Sean Gulian Of Nuveen For $138.75M
3402 Calle Odessa
See Similar DealsMultiFamily274,688 SF
Sold 04/07/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$505
Total Square Footage:274,688 SF
Transaction Type:Sale
The multifamily property located at 3402 Calle Odessa in Carlsbad has been sold for a total price of $138,750,000. This asset comprises 320 units within a total square footage of 274,688. The price per unit stands at $433,593, while the price per square foot is recorded at $505.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $138,750,000
- Units: 320
- Square Footage: 274,688
- Price Per Unit: $433,593
- Price Per Square Foot: $505
- Buyer: Colin Apple - Bridge Investment Group
- Seller: Sean Gulian - Nuveen
- Seller's Representative: Hunter Combs - Walker & Dunlop
Colin Apple represents Bridge Investment Group as the buyer in this transaction, while Sean Gulian represents Nuveen as the seller. Hunter Combs acted as the representative for the seller through Walker & Dunlop, ensuring the deal proceeded smoothly.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,399,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$492,949.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$657,745.79
Annual Debt Service$7,892,949.44
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