San Diego Business Journal

San Marcos Senior Apartment Complex Sold for $18.8 Million

Tuesday, November 26, 2013

Photo by courtesy of Hendricks-Berkadia

Providence Perris Apartments LLC of Encinitas has acquired the 122-unit Royal Oaks, a senior apartment community in San Marcos, for approximately $18.8 million.

The seller was DIG Royal Oaks LLC of Laguna Beach, according to a statement from brokerage firm Hendricks-Berkadia, which negotiated the transaction.

The three-story, garden-style community was built in 2003, and houses residents 55 and older. It is located at 650 Woodward St.

— SDBJ Staff Report