Property West Residential Acquires San Diego Multifamily for $23M

Property West Residential has completed a $22.5-million sale of La Jolla Park West, a 60-unit multifamily property located at 5165 Luigi Terr, in San Diego’s University Town Center submarket. Berkadia’s San Diego managing directors Ed Rosen and John Chu and associate director Tyler Sinks represented the seller, California-based Hunt Pacific Management Corporation.

“The multifamily market remains strong, despite impending rent control regulations that will go into effect in January 2020,” said Sinks. “The sale of La Jolla Park West is a testament that well-located assets with strong fundamentals will continue to command high valuations and strong investor demand.”

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