Colliers has facilitated the $34 million sale of The Madison, a 110-unit apartment community in El Cajon, CA. The firm’s Peter Scepanovic and Corey McHenry represented the buyer in the transaction, East Madison Avenue, LP and also represented the undisclosed seller.
The Madison is comprised of primarily one- and two-bedroom, 1 bath units with abundant parking. 60% of the property’s residences have undergone renovations, including plank flooring, stainless steel appliances, upgraded cabinetry and more. The complex is located along the I-8 Corridor in one of the region’s most diverse and vibrant communities.
“The San Diego Multifamily market continues to perform exceptionally well,” said Colliers’ Scepanovic. “Large suburban apartment properties like The Madison attract strong investor demand.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.