NorthMarq arranges sale of North Winds Apartments in El Cajon, California
SAN DIEGO, CALIFORNIA (October 8, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $4.425 million sale of North Winds Apartments. The 20-unit multifamily property is located at 340 Orlando Street in El Cajon, CA. Anderson and Pinkalla represented the buyer in this transaction, Cole Silverman and Carson Trujillo of Marcus & Millichap represented the seller.
“This asset was a natural fit for our buyer’s portfolio as it is positioned to continue to benefit from strong rent growth and low vacancy,” said Anderson. “This is one of five buildings that we will assist the buyer in purchasing in El Cajon this year alone. We are excited to be part of their growth in San Diego, and North Winds is a perfect fit for their business plan."
The property was purchased from Sommerset Villas Properties, LLC, and the buyer is 340 Orlando St, LLC.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
