Colliers finalizes $37M two-property Fallbrook apartment sale
The 133-unit Amberwood sold for $24.25 million and the 73-unit Rosewood for $12.4 million, according to Connect CRE.
At a glance
Colliers has finalized the sale of a two-property Fallbrook apartment portfolio for approximately $37 million, Connect CRE reported.
Amberwood Apartments, a 133-unit community at 923 Alturas Rd., sold for $24.25 million; Rosewood Apartments, 73 units at 338 Ammunition Rd., sold for $12.4 million.
The two stated prices sum to $36.65 million across 206 units, or roughly $182,000 per door at Amberwood and $170,000 at Rosewood.
Colliers has finalized the sale of a two-property Fallbrook apartment portfolio for approximately $37 million, Connect CRE reported.
Amberwood Apartments, a 133-unit community at 923 Alturas Rd., sold for $24.25 million; Rosewood Apartments, 73 units at 338 Ammunition Rd., sold for $12.4 million.
Colliers executive vice presidents Shane Shafer and Brian Anderson represented the sellers, Amber Creek Associates LTD and Rosewood Associates LTD, respectively.
The two stated prices sum to $36.65 million across 206 units, or roughly $182,000 per door at Amberwood and $170,000 at Rosewood.
Shafer said Amberwood and Rosewood "each offered characteristics buyers continue to prioritize, including value-add potential, strong underlying fundamentals, and opportunities to enhance value through proactive ownership and operational improvements."
Save this analysis and keep the funds you follow together in My Desk.
Sign in to save articles or follow funds.
DealsKennedy Wilson closes $176M San Jose apartment JV with Hulic and Fuyo
DealsBerkadia brokers sale of 458-unit Tivoli Green in Mount Pleasant, Wis.
Capital