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SAN DIEGO—A lack of class-A apartments to support the 120,000-plus jobs in the popular office and industrial neighborhood of Kearny Mesa in San Diego is keeping investors interested in this submarket, Moran & Co. director Derrek Ostrzyzek tells GlobeSt.com. Ostrzyzek recently represented seller Alliance Residential in the sale of Broadstone Corsair, a 360-unit luxury multifamily complex in Kearny Mesa, to Olympus Property and Artemis Real Estate Partners, representing the buyers' seventh multifamily investment, in the San Diego market.

The property is being renamed Olympus Corsair, effective immediately. Olympus Corsair is features high-end, class-AA, condo-quality finishes such as quartz and marble counters, stainless steel appliances, five-burner stoves and wood-plank flooring and a high-end, hospitality-designed amenity package aimed at creating a resort-inspired living experience. On-site amenities include a resort style pool with poolside cabanas inset with outdoor TVs; an indoor golf-simulator room; a two-story fitness center with reclaimed parquet wood flooring and a private yoga/dance studio; a clubhouse with demonstration kitchen, library and wet bar; a green living wall; and seven outdoor courtyard social spaces.

Rich Banjo, managing principal at Artemis, says, “Southern California is one of our top target markets for long-term core multifamily investing. Fundamentals are strong with steady job and population growth and unusually high barriers-to-entry, which, we believe, should drive above average operating performance and long-term value appreciation. Over time, we intend to aggregate a portfolio of high quality, core multifamily properties, similar to Corsair, in Southern California.”