Northmarq Arranges $64.5M Sale of Lake Elsinore Apartments
Kyle Pinkalla, Northmarq’s managing director of the San Diego investment sales team, has arranged the $64.5 million sale of River’s Edge Apartments, a 184-unit multifamily community in Lake Elsinore, CA. Atlantic Pacific Companies purchased the property from Weidner Apartment Homes and Northmarq represented both parties.
“The buyer was attracted to River’s Edge quality construction and close proximity to the freeway which connects the tenant base to the multiple job hubs throughout Southwest Riverside County. Additionally, the Inland Empire city of Lake Elsinore is a direct shot from San Diego, where the buyer has a large operations presence,” said Pinkalla.
The community is located at 2088 East Lakeshore Drive and sits alongside the San Jacinto River which flows into nearby Lake Elsinore. The property is situated about a mile from the Lake Elsinore Town Center retail plaza and is adjacent to Lake Elsinore Diamond, the home stadium for the Lake Elsinore Storm minor league baseball team.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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