650 Centre City Parkway, 2412 South Escondido Boulevard, and 700 W. Grand Avenue in Escondido have been sold in a recent transaction. The multifamily property was acquired by Waterford Property Co. and California Statewide Community Development Authority from Lyon Capital Ventures. The sale was facilitated by brokers Kyle Pinkalla and Erik Anderson of Northmarq. The property consists of 314 units, with a sale price of $157,000,000, resulting in an average price per unit of $500,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $157,000,000
• Units: 314
• Price per Unit (PPU): $500,000

Waterford Property Co. and California Statewide Community Development Authority acted as the buyers in this transaction, while Lyon Capital Ventures served as the seller. Kyle Pinkalla and Erik Anderson, representing Northmarq, facilitated the deal. The sale of this multifamily property marks an important transaction in the Escondido market.