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California  + San Diego  + Apartments  | 

San Diego Workforce Housing Trades to 1031 Exchange Buyer

Matthews facilitated the $30-million sale of Creekside Villas, a 144-unit workforce housing community located at 220 47th St. in San Diego. EVPs Stew Weston and Rosie Cooper represented the seller in the transaction, which marked the fifth multifamily sale of 100-plus units in San Diego within the past year.

Located less than four miles from Downtown San Diego, the transit-adjacent property offers direct access to the Orange Line and Interstate 805. Ownership has invested more than $2.5 million in capital improvements, with additional upside through potential ADU development.

Matthews identified a 1031 exchange buyer facing an approaching deadline, closing the transaction in 37 days from contract execution. “San Diego continues to be one of the most resilient multifamily markets in the country, particularly for well-located workforce housing,” said Weston. “Creekside Villas presented a
unique opportunity to acquire scale in a high-barrier-to-entry market with long-term growth
potential.”

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Inside The Story

Matthews' Weston

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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