Source: Walker & Dunlop
SAN DIEGO, CA - Walker & Dunlop announced that it completed the sale of EV Lofts, a 208-unit Class A apartment community in Downtown San Diego, California's trendy East Village neighborhood.
Walker & Dunlop's Hunter Combs, Blake Rogers, Javier Rivera, and Alexandra Caniglia represented the seller, Greystar Real Estate Partners, in the disposition to the buyer, Griffis Residential. Mr. Combs commented, "This was a rare opportunity to acquire a Class A institutional asset in one of San Diego's best neighborhoods, East Village. In addition to an extremely high level of interest in the opportunity, investors were bullish on Downtown and forecasting major tailwinds due to the explosion of new office in the pipeline, including IQHQ, The Campus at Horton Plaza and Kilroy Little Italy, just to name a few."
Built in 2015 by nationally recognized developer Oliver McMillan, EV Lofts is a mid-rise community featuring best-in-class design and finishes. The property features luxury amenities, including a rooftop deck, resident lounge, fitness center, dog park, and is powered by the Alfred resident tech platform. Surrounded predominately by high-rise apartment buildings with rents approximately 30% higher, EV Lofts offers an attainable rental housing option that appeals to a larger demographic.
Situated just three blocks from Petco Park and at the nexus of the Gaslamp and East Village Districts, EV Lofts offers residents an ideal mix of walkable retail, Michelin-recognized restaurants, and entertainment amenities. The transit-oriented property also features immediate access to the major employment hubs of San Diego including Westfield UTC, La Jolla, Sorrento Valley, Kearny Mesa, and Mission Valley.