A Southern California-based private investor acquired the 150-unit Terrace Gardens Seniors Apartments in Lemon Grove, CA, in a 1031 exchange. The property commanded a sales price of $10.65 million, or $71,000 per unit, with a 6.5 percent cap rate.
A Southern California-based private investor acquired the 150-unit Terrace Gardens Seniors Apartments in Lemon Grove, CA, in a 1031 exchange. The property commanded a sales price of $10.65 million, or $71,000 per unit, with a 6.5 percent cap rate.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In