Gregory S. Bates Of GID Acquires 305-Unit Apartment Community In San Diego For $148.5M

The transaction involves a multifamily asset located at 5080 Camino del Arroyo in San Diego, CA. The property was sold for $148,500,000, which corresponds to approximately $486,885 per unit for a total of 305 units. The Metro Mission Valley apartment community, built in 2018, includes studio to two-bedroom apartments and offers amenities such as a pool, fitness center, spa, and dog park.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $148,500,000
• Buyer: Gregory S. Bates - GID
• Seller: Gerry Ranglas - R&V Management Corp
• Units: 305
• Price Per Unit: $486,885

Gregory S. Bates represents GID in this acquisition, which adds to the company's multifamily portfolio. The seller, Gerry Ranglas, represents R&V Management Corp, which has divested this asset as part of its real estate strategy.