Blackstone Group Acquires San Diego Multifamily Portfolio For $1B
SOLD
$1,000,000,000
California
See Similar DealsMultiFamily
Sold 05/13/2021
SOLD
Blackstone Group Acquires San Diego Multifamily Portfolio For $1B
San Diego, CA, USA
See Similar DealsMultiFamily
Sold 05/13/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The Blackstone Group, represented by Stephen Schwarzman and Kathleen McCarthy, has acquired a multifamily property in San Diego. The property was sold by the Conrad Prebys Foundation for a sale price of $1,000,000,000. The transaction took place on May 13, 2021, and includes a total of 5,800 units across 66 different complexes throughout the city.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,000,000,000
- Units: 5,800
- Price Per Unit: $172,413
Stephen Schwarzman and Kathleen McCarthy represented the Blackstone Group in the acquisition of this multifamily property. The Conrad Prebys Foundation served as the seller in the transaction. With a portfolio consisting of 66 different complexes, this investment provides a significant presence for Blackstone Group in the San Diego market.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552,788.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740,510.18
Annual Debt Service$56,886,122.11
Is there something missing? Send suggestions