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.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
