
154-Unit Multifamily Property in San Diego County Trades for $41M
Hidden Hills, a 154-unit multifamily complex in San Diego County, was acquired by The Apartment Company, a local real estate investment firm, for $41 million. The seller was TruAmerica Multifamily.
Located at 311 Weston Circle in Vista, the 141,988-square-foot property features such amenities as a swimming pool/spa, barbecue grills and a dog park. Built in 1985, the two-story garden-style site features a low-density design at only 19 units to the acre, in a mix of one, two and three-bedroom floor plans.
CBRE’s Kevin Mulhern represented the seller. CBRE’s Brandon Smith and Cameron Chalfant with Brian Eisendrath’s finance group closed the 10 year, fixed-rate $25 million loan with Fannie Mae.
Smith says, “The ability to achieve a rock-bottom spread and full-term interest only in this volatile market allowed our client to deliver a strong cash-on-cash return to their investors.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition