Stos Partners, in collaboration with multifamily operator Apartment Worth and an institutional investor, has successfully concluded the sale of 938 N. Fig St., a townhome complex consisting of 14 units located in Escondido. The property was sold for $7.9 million, which equates to approximately $564,000 per unit and is reported as the highest price-per-unit achieved for a multifamily building along the State Route 78 corridor within the past year.
This transaction marks the sixth successful investment made by this partnership as they continue to pursue opportunities that align with their value-add investment strategy focused on Southern California and Nashville’s multifamily markets.
Founder and principal at Stos Partners CJ Stos stated that through targeted capital improvements and strategic asset management, they were able to significantly increase the property’s value resulting in excellent financial returns for their investment partners. This further solidifies their track record of successfully transforming high-quality assets in growing markets.
The sale was facilitated by EVP Peter Scepanovic and SVP Corey McHenry from Colliers who represented both Stos Partners and Apartment Worth during negotiations.
In summary:
– A partnership between Stos Partners, Apartment Worth (a multifamily operator),and an institutional investor has closed on selling a townhome complex located at 938 N.Fig Street in Escondido.
– The property sold for $7.9 million ($564k per unit), setting a new benchmark price-per-unit along State Route 78 corridor within one year.
– This is their sixth successful joint venture focusing on value-add investments in Southern California & Nashville’s multifamily market.
– According to founder/principal CJ Stoss: By implementing targeted capital improvements & strategic asset management strategies we have significantly increased its overall worth delivering great financial returns while continuing our success rate transforming premium assets into profitable ones especially across growth-oriented regions.”
-The deal was brokered by EVP Peter Scepanovic &SVP Corey McHenry from Colliers who represented both Stos Partners & Apartment Worth.
