Michael Lowe Of Lowe Enterprises Acquires Multifamily Complex From Jamie Dimon Of J.P. Morgan For $71M

The asset involved in the transaction is a multifamily property located at 707 10th Avenue in San Diego's Ballpark District. The sale price for the property was $71,000,000, which encompasses a total of 207 units at a price per unit of $342,995.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $71,000,000
• Address: 707 10th Avenue
• Market: San Diego
• Units: 207
• Price Per Unit: $342,995
• Buyer: Michael Lowe - Lowe Enterprises
• Seller: Jamie Dimon - J.P. Morgan
• Broker Representatives: Rachel Parsons, Derrek Ostrzyzek, Kenji Thomas & Mike Murphy - CBRE

The transaction sees Michael Lowe of Lowe Enterprises acquiring the property from Jamie Dimon of J.P. Morgan. The brokerage team from CBRE, comprising Rachel Parsons, Derrek Ostrzyzek, Kenji Thomas, and Mike Murphy, facilitated the deal. Lowe plans to implement significant upgrades as part of a broader strategy to purchase well-located assets at discounted valuations.