MC Properties Acquires 87-Unit San Diego Apartment Building for $31.5MM

San Diego, Northmarq, MC Properties, AAA Management, The Ridge Apartments

SAN DIEGO, CALIFORNIA – Kyle Pinkalla, managing director, and Erik Anderson, vice president, of Northmarq’s San Diego investment sales team secured the $31.5 million sale of The Ridge Apartments. The 87-unit multifamily property, built in 1989, is located at 4641-4677 Home Avenue, San Diego, California. Northmarq represented both the seller, AAA Management, and the buyer, MC Properties, in the transaction.

The sale comes in the context of strengthened multifamily market in the local investment market during Q2, according to Northmarq’s recently released San Diego Multifamily Market Insights. Year to date, sales volume is up nearly 10 percent from last year. Read the full story here.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.