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Pacific Urban Investors acquired two multifamily communities in downtown San Diego totaling 251 units. The properties –– are located at 655 Sixth Ave and 677 Seventh Ave, respectively.
 Seventh & G: 677 Seventh Ave, San Diego |
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Both properties were completed in the late-2000s. Containing 106 units, Sixth & G features studio, one-, two- and three-bedroom floorplans, averaging 697 sf. Unit interiors feature floor-to-ceiling windows, hardwood-style flooring and washer /dryers. The property includes a club room, an indoor/outdoor fitness center and 10.8k sf of retail space, including Ace Hardware and Fig Tree Café.
Seventh & G, located on G Street between Seventh and Eighth Avenue, features 145 units with floorplans ranging in size from live-work lofts, studio, one-, two- and three-bedroom and averaging 686 sf. The community includes a courtyard sun deck, a fully equipped fitness center and 6,5k sf of retail space. Seventh & G features some of San Diego’s most popular restaurants – Neighborhood, Noble Experiment, Young Blood and Breakfast Republic.
CBRE's Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, Chris Tresp and Kenji Thomas represented the seller in the transaction.
“The portfolio sale represents two of only sixteen properties over 100 units sold in San Diego County in 2024. Investors were drawn to the G Street Offering due to its exceptional location in the heart of Downtown’s Gaslamp District, San Diego’s entertainment capital. The offering provided two core-plus buildings located only a half block apart, with incredible synergies and a value-enhancement story.
We remain extremely enthusiastic about the future and growth of Downtown San Diego – fueled by the continued success of the San Diego Padres and Gallagher Square, the exciting plans for Gaslamp Promenade and continued strong retail absorption throughout Downtown – all of which provide for strong residential demand which ultimately positions this dynamic market for long-term success,” said Parsons.
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