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8798 Spectrum Center BLVD, ...

8798 Spectrum Center BLVD
SOLDMultiFamily

8798 Spectrum Center BLVD

8798 Spectrum Center BLVD, San Die...

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

Domain San Diego is a multifamily community located at 8798 Spectrum Center BLVD, San Diego, comprising 379 apartments that include studio, one- and two-bedroom units. The property offers competitive community amenities and convenient access to freeways 163 and 52.

Summary of transation details:

  • Property Type: Multifamily Community
  • Transaction Amount: Undisclosed
  • Address: 8798 Spectrum Center BLVD, San Diego
  • Seller: Goldman Sachs Asset Management
  • Buyer: Rockwood Capital
  • Seller's Representatives: Jonathon Merhut - Eastdil Secured, Mark Peterson - Eastdil Secured, Eugene Chong - Eastdil Secured
  • Note: The selling entities included Goldman Sachs Asset Management and Magnolia Capital.

The transaction involved a joint venture between affiliates of Rockwood Capital and MG Properties. The deal was supported by Joseph Smolen, Geoff Boler, Mark Peterson, Jonathan Merhaut, and Eugene Chong from Eastdil Secured, representing the sellers throughout the transaction.

Players

Mark Peterson

Broker

$73M

vol

3 deals

Broker
Goldman Sachs
Goldman SachsLender

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93