Orsett Acquisitions LLC Purchases Pine View Apartments In Vista For $14.1 Million

The asset involved in this transaction is a multifamily property located at 900 & 910 Phillips Street in Vista. The property consists of 59 units and was sold for a total of $14,100,000. This translates to a price per unit (PPU) of $238,983, with a total square footage of 3.5 and a price per square foot (PPSF) of $4,028,571.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,100,000
• Address: 900 & 910 Phillips Street
• Market: Vista
• Units: 59
• Price Per Unit: $238,983
• Square Footage: 3.5
• Price Per Square Foot: $4,028,571
• Buyer: Orsett Acquisitions, LLC
• Seller: Orsett Pine View Apartments, LLC
• Buyer's Representative: Corey McHenry & Peter Scepanovic - Colliers
• Seller's Representative: Eric Von Bluecher & Ivan Del Muro-Garcia

Colliers facilitated the sale, which represents a shift from long-term family ownership to the new owner, Orsett Acquisitions, LLC. The new owner has plans to implement renovations and additions to enhance the property's value within the competitive market of North San Diego County.