**Lowe Acquires San Diego’s Tenth & G Apartments for $71 Million**
Lowe, a Los Angeles-based national real estate investment, development, and management firm, has acquired the Tenth & G Apartments, a 207-unit multifamily community located at 707 Tenth Avenue in downtown San Diego’s Ballpark District. The transaction was completed for $71 million, which equates to approximately $343,000 per unit—well below the property’s replacement cost.
“Tenth & G is a perfect example of Lowe’s national strategy to invest in high-quality, well-located multifamily assets at favorable valuations,” said Mike Lowe, co-CEO of the firm. “Our goal is to enhance property operations and implement thoughtful upgrades to improve the resident experience.”
Originally constructed in 2008, the eight-story, steel-and-concrete building features loft-style units and 8,250 square feet of ground-floor retail space. Lowe plans to undertake a series of improvements including a new leasing office, co-working space, an expanded fitness center, and upgraded common areas. Individual units will also be renovated to reflect the standards of comparable properties in the area.
The enhancements aim to elevate overall livability while maintaining attainable rent levels, aligning with Lowe’s broader goal of providing quality housing in key urban markets across the country.
