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4/21/20
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Sage Apartments, a 137-unit multifamily property located in the North San Diego County city of Escondido, sold for $34.7 mil, or $253.3k/unit. The 86.7k sf property is located at 1920 and 1960 E. Grand Ave, east of Hwy 78 and south of Washington Ave.
The property is comprised of primarily one- and two-bedroom units. Over the past three years, the seller made many interior and exterior upgrades to the 1970’s construction property. The new owner plans to continue the process of updating the property.
Subsidiaria de Santa Jacinto LLC was the buyer.The seller, Clear Sky Escondido LP, was represented by Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multi-Family Advisory Group.
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