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Waterton Acquires Multifamily Property In La Mesa For $141M

Property Image
SOLD
$141,000,000
David Schwartz
Alfred Pace

California

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Property Image
SOLD

Waterton Acquires Multifamily Property In La Mesa For $141M

5353 Baltimore Drive, La Mesa, California 91942, United States

See Similar Deals
MultiFamily
Sold
David Schwartz
Alfred Pace
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

5353 Baltimore Drive in La Mesa has been sold in a recent transaction. The property is a multifamily asset consisting of 406 units. The sale price for this transaction was $141,000,000, resulting in a per unit price of approximately $347,291. The transaction took place on January 10, 2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $141,000,000
  • Address: 5353 Baltimore Drive
  • Market: La Mesa

The buyer in this transaction is Waterton, represented by David Schwartz. The seller is Pacific Urban Investors, represented by Alfred Pace.

Players

David Schwartz
Waterton
David Schwartz
40 deals$2.8B volume
BUYER
Alfred Pace
Pacific Urban Investors
Alfred Pace
11 deals$1.2B volume
SELLER
Waterton
Waterton
LENDER

Details

SOLD
IMAGE: David Schwartz DATE: 01/10/2023 ADDRESS: 5353 Baltimore Drive MARKET: La Mesa ASSET TYPE: Multifamily BUYER: Waterton (@WatertonRealEstate)- David Schwartz SELLER: Pacific Urban Investors - Alfred Pace SALE PRICE: $141,000,000 UNITS: 406 ~ PPU: $347,291

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$500,943.22
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