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Sunday, Sep 25, 2022
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Oceanside Apartments Sold

 29th Street Capital, a real estate investment firm based in Chicago, has acquired an Oceanside apartment for $97.5 million.

Built in 1974, Sunterra Apartments, 3851 Sherbourne Drive, was sold by Ideal Capital Group.

The complex has 240 apartments and includes a pool, two playgrounds, a sundeck with an outdoor fireplace, and a fitness center.

Improvements planned by 29th Street Capital include installing stainless steel appliances, quartz countertops, oval soaking tubs, and white cabinetry.

Exterior improvements will include updating the roof, wrapping balconies in wood paneling, and replacing windows and glass doors.

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Hunter Combs with Walker & Dunlop in San Diego brokered the transaction.

  John Montakab and Mark Grace with Walker & Dunlop arranged the financing.  

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