SAN DIEGO – December 21, 2017 – Berkadia announced the $34.25 million sale of Alta Vista Apartments, a 102-unit garden-style multifamily property in Escondido, California. Managing Directors Ed Rosen and John Chu and Directors Kyle Pinkalla and Erin Dammen of Berkadia’s San Diego team represented the seller, Irvine, California-based Sares Regis Multifamily Fund, L.P. The buyer was San Francisco-based Crown Capital, and the deal closed on December 19.
“This deal is a reflection of the strength of San Diego’s North County rental market and continued investor demand for product in the submarket,” said Pinkalla.
Alta Vista Apartments is located at 1245 Morning View Drive, minutes from the burgeoning Route 78 Corridor. The one-, two- and three-bedroom floorplans feature gourmet kitchens, walk-in closets, storage areas and vaulted ceilings. The community features a resort-style pool with cabanas, a fitness center, a barbeque and picnic area and beautiful valley views.