Mission Ridge Apartments
Photo courtesy of Walker & Dunlop

Mission Ridge Apartments Photo courtesy of Walker & Dunlop

An Encinitas apartment complex has been sold for $94.1 million.

Mission Ridge Apartments, 1320 Via Terrassa, was bought by Interstate Equities Corp.

The seller was not disclosed.

Both parties were represented by Hunter Combs, Blake Rogers, Alexandra Caniglia, Javier Rivera and Kevin Sheehan of Walker & Dunlop, Inc.

Financing was arranged by Chris Botsford and Justin Nelson of Walker & Dunlop.

Mission Ridge Apartments was built as condominiums in 1985 then converted to apartments.

The complex has 196 apartments averaging 1,034 square feet on an 18.5-acre site.

“This was an extremely rare transaction in the coastal submarket of Encinitas,” Combs said.