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Saturday, Jul 13, 2024
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San Diego Firm Buys Encinitas Apartments for $53 Million

An affiliate of San Diego-based Property West Residential has acquired a 120-unit apartment property in Encinitas for $53 million, according to CoStar Group and public data.

The seller of the complex known as Elan Pacifico Encinitas Heights, at 1100 Garden View Road, was an affiliate of Chicago-based Equity Residential.

The eight-building, three-story community was built on approximately 4.7 acres in 2002.

According to its website, Property West Residential owns 54 San Diego County apartment properties under the Elan brand. The company is led by President and CEO Mark Gosselin.

The seller in the recent deal was represented by Ed Rosen, John Chu, Kyle Pinkalla and Erin Dammen of brokerage firm Berkadia.

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