Tom Hall & Farrokh Billimoria Of GL Capital Partners Acquire Multifamily Gema Community For $80M

The asset involved in this transaction is a multifamily property located at 1471 8th Avenue in San Diego, CA. The property consists of 230 units and has a sale price of $80 million, translating to approximately $347,826 per unit. This transaction marks a significant sale in the San Diego market, representing the largest multifamily sale of Q3 2026.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $80,000,000
• Units: 230
• PPU: $347,826
• Buyer: Tom Hall & Farrokh Billimoria - GL Capital Partners
• Seller: Gerding Edlen - The Green Cities Company
• Date of Transaction: 10/27/2026
• Market: San Diego, CA

GL Capital Partners, represented by Tom Hall and Farrokh Billimoria, acquired the Gema apartment community from The Green Cities Company, led by seller Gerding Edlen. The transaction was influenced by factors such as falling apartment vacancy rates, rising rents, and a tightening construction pipeline, driving up the demand for existing rental properties in the area.