Equity Residential Sells 229-Unit Multifamily Property In San Diego For $82.2 Million

The transaction involved a 229-unit multifamily property located at 699 14th Street in San Diego. The property was sold for $82,200,000, resulting in a per-unit price of $358,952 and a cap rate of 4.5%. The asset is situated in East Village, an area recognized for its rapid growth and enhanced amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $82,200,000
• Units: 229
• Price per Unit: $358,952
• Cap Rate: 4.5%
• Seller: Equity Residential
• Brokers: Anna Kampling & Kitty Wallace

This transaction was brokered by Colliers’ Kitty Wallace and Anna Kampling, who represented the selling entity. The buyer intends to focus on expanding affordable housing within this amenity-rich community, enhancing its appeal in one of San Diego's fastest-growing neighborhoods.