GID Real Estate Investments has struck a deal to purchase a multifamily community in the Golden State for $167 million, or $504,000 per unit, from The Dinerstein Companies.
Walker & Dunlop Investment, who represented the buyer and seller, calls the sale the "largest suburban core transaction and second-largest single-asset transaction in California."
The property is called Millennium PQ and it is located in Rancho Penasquitos, San Diego. The 331-unit space features a low-density garden environment and resort-style amenities. Additionally, major schools are nearby, with Apple set to debut its 68-acre campus in the area, which it purchased for $445 million.
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