Stos Partners Extending Its Multifamily Housing Goals

Picking up its third apartment complex project in three years, Stos Partners is showing its growing interest in the multifamily complex space. 

Encinitas-based Stos Partners’ legacy is industrial and commercial spaces and projects. In January 2022, however, Stos bought Lincoln Washington Apartments in El Cajon for $6 million. Lincoln Washington has 25 apartments at present, with Stos planning an updated renovation and the addition of one more apartment unit.

“We’re looking to replicate what the company’s done on the industrial side, industrial flex side, which is the company’s core interest,” Sean Giffin told the San Diego Business Journal. Giffin joined Stos in late 2021 as VP of multifamily acquisitions.

The Lincoln Washington complex aims to serve middle-income families, which fits the other two purchases Stos has recently made. Other California municipalities and cities have focused on this demographic with specific programs to encourage private/public cooperation to build more available inventory for middle-income families and individuals.