Poway Multifamily Trades for $41.2M

Summerlyn Apartments, a Poway multifamily complex, was recently purchased by an affiliate of Pacific Urban Residential for $41.2 million. The property was sold by Fairfield Township LLC in a deal brokered by CBRE.

Summerlyn has 193 units and more than 154,986 square feet. The average monthly rent for one to three bedroom apartments is $1,480. Amenities include a pool, dog park and picnic areas. Summerlyn is near several retail outlets, such as Walmart, Sprouts Farmers Market and Lowe’s.