logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
United Kingdom
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
  • Services
    • Business Lines
      • Advisory and Transaction Services
      • Development
      • Property Management
      • Building Consultancy
      • Global Workplace Solutions
      • Valuation and Advisory
      • Capital Markets
      • Investment Management: CBRE Global Investors
    • Services for Investors and Developers
      • Building Surveying
      • Capital Allowances
      • Cost Management
      • Development Management
      • Environmental Consultancy
      • Health and Safety
      • Investment Properties
      • Private Office
      • Residential Investment
      • Valuation and Advisory
      • Business Rates
      • Compulsory Purchase
      • Debt Advisory
      • Development Transactions
      • Facade Consultancy
      • Investment Advisory
      • Loan Services
      • Property Management
      • Strategic Projects
      • Capital Advisors
      • Corporate Finance
      • Development Consultancy
      • Engineering Consultancy
      • Geomatics
      • Investor Leasing
      • Planning
      • Reinstatement Cost Assessments
      • Project Management
    • Services for Occupiers
      • Building Surveying
      • Compulsory Purchase
      • Development Monitoring
      • Environmental Consultancy
      • Flexible Workspace
      • Lease Accounting Standards
      • Portfolio and Location Advisory
      • Reinstatement Cost Assessments
      • Valuation and Advisory
      • Business Rates
      • Corporate Capital Markets
      • Energy and Sustainability
      • Facade Consultancy
      • Geomatics
      • Lease Consultancy
      • Portfolio Services
      • Supply Chain
      • Workplace
      • Capital Allowances
      • Cost Management
      • Engineering Consultancy
      • Facilities Management
      • Health and Safety
      • Occupier Transactions
      • Project Management
      • Transaction Management
    • Asset Types & Specialties
      • Affordable Housing
      • Flexible Offices
      • Industrial and Logistics
      • Leisure
      • Office
      • Residential
      • Co-Living
      • Healthcare
      • Laboratories
      • Mixed Used and Portfolios
      • Operational Real Estate
      • Retail
      • Data Centre Solutions
      • Hotels
      • Land
      • Multifamily
      • Pubs
      • Student Accommodation
    • Industry Sectors
      • Aviation
      • Financial Services
      • Industrial and Logistics
      • Life Sciences
      • Tech, Media and Telecoms
      • Data Centre Solutions
      • Government and Public Sector
      • Laboratories
      • Petroleum and Automotive
      • Energy and Sustainability
      • Healthcare
      • Land
      • Sector Insights
  • Properties
  • Research & Reports
    • UK Real Estate Market Outlook 2021
      Brexit
      Research Blog
      About CBRE Research
      Global Research Gateway Support
  • People & Offices
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Diversity and Inclusion
      Graduates
      HH Reimagined
      Investor Relations
      Media Centre
      Our Policies
      UK Coverage

Next

Press Release
DAVLYN INVESTMENTS SELLS TWO OFFICE PROPERTIES IN SAN DIEGO COUNTY FOR TOTAL OF $44.4 MILLION TO SEPARATE PRIVATE INVESTORS -- CBRE

Ideal Capital Group Purchases Oceanside, Calif. Apartment Building for $66.25 Million

San Diego, CA | 29 August, 2019
  • Email
  • Share
  • Tweet
  • Share

Sunterra

The transaction yielded multiple offers from a variety of investors, including institutions, sponsored groups, family offices and private individuals.

San Diego - CBRE announced the sale of Sunterra Apartments, an apartment property in Oceanside, Calif. to a Joint Venture between IDEAL Capital Group, a real estate investment group based in Clovis, CA, and Aegon Real Assets US, a division of Aegon NV, a multinational life insurance, pensions and asset management company headquartered in the Netherlands, for $66.25 million.

CBRE’s Dean Zander, Stewart Weston, John Montakab, and Kevin Mulhern represented the seller, a private investment group.

Located at 3851 Sherbourne Dr, the property features 240 units with a mix of spacious two-bedroom apartments. Community amenities include a pool, children’s wading pool, built-in fire pits and barbeques, large common areas, security gates, and a fitness center.

“This was a highly competitive bidding process,” said Montakab. “All the buyers were looking to further improve the property to align themselves with the demands of renters in the thriving Oceanside submarket. Our marketing efforts yielded interest from a variety of investors, including institutions, sponsored groups, family offices and private individuals.” Added Zander, “The burgeoning market coupled with a lack of new development in the area provided an enticing roadmap for a buyer to further improve the existing finishes.”

Sunterra is just a mile from Vista Way, the retail corridor for residents of Oceanside. The property is centrally located and in commuting distance to Camp Pendleton, Genentech Pharmaceuticals, UC San Diego, Coca-Cola, Legoland, and the Tri Cities Medical Center.

“Oceanside is a high-barrier-to-entry market in transition,” said Austin Herzog, president of IDEAL Capital Group. “As one of California’s last affordable beach cities, Oceanside offers residents perfect year-round weather and the ability to access some of the world’s top employers. We plan on converting Sunterra into an amenity-rich home for value-conscious residents of North San Diego County.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contacts

Cole-Mortland_326x248
Cole Mortland
Corporate Communications
+1 858 6464702
+1 858 5463985
  • Home
  • About Us
  • Services
  • CBRE Slavery and Human Trafficking Statement
  • Properties
  • Research
  • Media Centre
  • Investor Relations
  • Contact Us
  • Site Map
  • Privacy Policy
  • Terms of Use
  • Careers
  • Our Response to Schrems II
  • Instagram
  • Twitter
  • LinkedIn