NorthMarq arranges sale of Las Palmas Apartments in San Diego, California
SAN DIEGO, CALIFORNIA (March 10, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $4.1 million sale of Las Palmas Apartments. The 18-unit multifamily property is located at 3864 35th Street in San Diego, California within the North Park/Cherokee Point submarket. Anderson and Pinkalla represented the seller and sourced the buyer in the transaction as well.
“With the low amount of available inventory in the market currently, the buyer was attracted to purchasing the asset off market at a favorable basis per unit,” said Anderson. “The buyers intend to do a full interior and exterior remodel to the asset and are excited about the additional gentrification of the area."
The property was purchased from Voltaire Street, LLC, and the buyer is undisclosed.
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
