Oceanside Multifamily Asset Sells in $66 Mil Transaction

A joint venture between IDEAL Capital Group and Aegon Real Assets US closed on a major multifamily buy in Oceanside, paying $66.25 mil for Sunterra Apartments, a 240-unit ($276k/unit) asset located at 3851 Sherbourne Dr.
 
Sunterra is just a mile from Vista Way, the retail corridor for residents of Oceanside. The property is centrally located and in commuting distance to Camp Pendleton, Genentech Pharmaceuticals, UC San Diego, Coca-Cola, Legoland, and the Tri Cities Medical Center.
 
CBRE’s Dean Zander, Stewart Weston, John Montakab, and Kevin Mulhern represented the seller, a private investment group.
 
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