Kyle Pinkalla, managing director of investment sales in NorthMarq’s San Diego office, authored an article highlighting an expected turnaround for San Diego apartment investment sales that was featured in the September issue of Western Real Estate Business.
While Proposition 10, California’s proposal to strengthen rent, was defeated on the ballot, it somewhat stifled the multifamily investment sector in San Diego.
But the market appears poised to bounce back. Pinkalla discusses how the “tides have begun to turn in the past few months, with numerous apartment deals on the market–more than we’ve seen at one time in the past few years.”
This is especially true in Downtown San Diego where a significant number of new merchant-built deals are expected to come to market, continuing throughout the year. These are luxury complexes, with some expected to fetch as much as $600,000.