Bill Anderson, senior vice president and principal of ACRE Investment Real Estate Services, and Matthew Brothers -- senior director, also with ACRE -- represented the buyer and seller in the Deal of the Week.
The deal was the sale of Amber Woods, a 60-unit apartment community at 420-470 Jamacha Road, El Cajon, for $8.9 million, or $148,333 per unit.
The buyer was A Woods LLC, with Homaira Danish as managing member. Krystle Moore, broker and principal of Pacific Shore Capital, arranged a $5 million loan through Union Bank.
The seller was the Meagher Family Trust, with Donald T. Meagher and Mary Lou Meagher as trustees.
The apartment, built in 1984 on 2.76 acres, consists of 26 two-bedroom/one-bath units and 34 two-bedroom/two-bath units totaling 58,050 rentable square feet. Property amenities include a pool, a stand-alone leasing office, multiple common areas, onsite laundry and open parking.
Amber Woods, a 60-unit apartment community at 420-470 Jamacha Road in El Cajon, sold for $8.9 million, or $148,333 per unit.