Ernest Rady & Adam Wyll Acquire Genesee Park Multifamily Property In San Diego For $67.9M

American Assets Trust acquired a 192-unit multifamily property located at 3625 Earnscliff Place, in the San Diego market. The transaction took place on March 3, 2025, for a total of $67.9 million, with a price per unit of $353,646. The asset spans 6 acres.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,900,000
• Units: 192
• Price Per Unit: $353,646
• Date of Transaction: 03/03/2025
• Address: 3625 Earnscliff Place
• Market: San Diego
• Acres: 6
• Buyer: Ernest Rady & Adam Wyll - American Assets Trust
• Seller: Private Investor

Ernest Rady and Adam Wyll, representing American Assets Trust, were instrumental in this acquisition. The new ownership plans to optimize rental rates and increase density, responding to the rising prices and strong investor demand in San Diego's multifamily market.