Royal Oaks in San Marcos sold
The Deal of the Week was handled by Bill Anderson and Craig Stewart, both senior vice presidents/principals at ACRE Investment Real Estate Services.
The deal was the sale of the 122-unit Royal Oaks Senior Apartments at 650 Woodward St. in San Marcos for $16.8 million or $138,115 per unit.
The complex was purchased by DIG Royal Oaks LLC, with Chris Dornin as managing member, c/o Dornin Investment Group LLC, 1504 S. Coast Highway, Laguna Beach 92651. The acquisition was financed with a loan of $12.4 million from Deutsche Bank Berkshire Mortgage Inc.
The seller of the property was Woodward Investment Associates LLC, with David C. Price as the managing member.
