Property West Residential Acquires Multifamily Asset At 454 Requeza Street For $29.2M

The property involved in this transaction is a multifamily asset located at 454 Requeza Street in Encinitas. The sale price for this property was $29,200,000. It consists of 102 units, with a price per unit of $286,274. The total square footage of the asset is 53,010, which equates to a price per square foot of $550.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,200,000
• Address: 454 Requeza Street
• Market: Encinitas
• Units: 102
• Price Per Unit: $286,274
• Total Square Feet: 53,010
• Price Per Square Foot: $550
• Buyer: Property West Residential
• Seller: Arthur Jones - Jones-Brogan 2011 Charitable Remainder Trust
• Buyer’s Representative: Carson Trujillo - Marcus & Millichap
• Seller’s Representative: Patrick Mercer - Mercer Group

The deal involved key representatives from both the buying and selling sides, with Carson Trujillo representing the buyer, Property West Residential, and Patrick Mercer representing the seller, Arthur Jones who is affiliated with the Jones-Brogan 2011 Charitable Remainder Trust. Both brokers are associated with recognized real estate agencies, Marcus & Millichap and Mercer Group, respectively, highlighting the collaborative effort in this transaction.