Northmarq’s San Diego office finalizes $8.2 million sale of Golden Heights Terrace apartments
SAN DIEGO (Dec. 29, 2023) — Erik Anderson, senior vice president of Northmarq’s San Diego Multifamily Investment Sales team, has completed the $8.2 million sale of a 27-unit multifamily property in San Diego. Built in 1987 and renovated in 2020, Golden Heights Terrace is located at 525-565 28th Street. Northmarq represented the seller, 575 28th LLC. The buyer, 28th HDG LLC, self-represented.
“The execution of the sale of Golden Heights Terrace was a testament to all parties being aligned on working towards a successful closing,” said Anderson. “The escrow took over a year to consummate due to headwinds in the debt and equity markets, but we were able to get it to the finish line at a prevailing sales price for the seller.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
