FPA Multifamily Buys Cain International’s 231-Unit 625 Broadway in Downtown San Diego for $62MM

FPA Multifamily paid $62 million for 625 Broadway, the 231-unit apartment conversion of downtown San Diego's first high-rise, less than half the $143 million Cain International and a partner paid in 2020, and at a steep per-unit discount to the quarter's top suburban deals.