Stos Partners Adds Apartment “Ten-Plex” in San Diego’s Rolando Village
Stos Partners, in partnership with Apartment Worth and a high-net-worth family office, has acquired a 9,500-square-foot “ten-plex” multifamily community in the Rolando Village submarket of San Diego. Located at 6752 Solita Ave., the property was acquired for $4.26 million with financing arranged through C3 Bank.
This is Stos Partners’ fourth multifamily acquisition since entering the sector, with this initial portfolio serving as a strong foundation for future investments in the sector, according to company president CJ Stos.
“We believe we will continue to see robust economic growth in San Diego, which, coupled with the housing shortage and looming stagflation, will lead to increased value for renovated existing multifamily communities,” said Stos. He noted that San Diego multifamily saw average vacancy rates of 2.2% at the end of 2021, a sharp decline from the past two years.
Colliers’ Peter Scepanovic and Corey McHenry represented Stos Partners in the transaction
- ◦Sale/Acquisition