GID Acquires Luxury Multifamily in San Diego’s Mission Valley
Berkadia closed the sale of Metro Mission Valley, a 305-unit, core-plus luxury apartment community in San Diego. Managing directors Ed Rosen, John Chu and Tyler Sinks of Berkadia La Jolla led the transaction on behalf of the seller. GID was the buyer. Although the purchase price was not disclosed, GID paid $167 million for a 331-unit San Diego property in summer 2024.
“Metro Mission Valley represented a rare opportunity for investors to acquire an exceptionally well-performing asset in the heart of San Diego,” said Rosen. “Strong demand for truly contemporary Class A rental product has made this one of the most compelling executions of modern, millennial-focused housing in the market.”
Built in 2018 and located at 5080 Camino del Arroyo, the property has a mix of studio, one-, and two-bedroom units. It is close to more than 2.8 million square feet of retail at the Westfield Mission Valley and Fashion Valley Mall. The property’s strategic freeway access also provides immediate connectivity to over 450,000 jobs.
Hear from top executives from BGO, Blackstone, Cushman & Wakefield, Kennedy Wilson and CBRE as they break down strategy, capital flows, and where the market is headed on May 28 at Connect LA. Join the conversation shaping LA CRE—register now: www.connectLA26.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout