https://apnews.com/press-release/pr-newswire/lifestyle-california-san-diego-25f0e2fb160a1747a2cad2d980942a57
San Diego Apartment Community Trades Hands via Walker & Dunlop
BETHESDA, Md., Jan. 13, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today 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."
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Built in 2015 by nationally recognized developer OliverMcMillan, 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.
Walker & Dunlop is a leader in multifamily property sales, having completed $5.2 billion in property sales volume in the third quarter of 2021 alone, up 373% from the same period in 2020. The firm was also the top provider of capital to the U.S. multifamily market, originating $31 billion in transactions and lending over $24 billion for multifamily properties in 2020. For information about multifamily properties available for sale via Walker & Dunlop's investment sales platform, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work ® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.