SENTRE begins 2015 with acquisition of 53 condo units in North County
January 30, 2015
Escondido, CA 92025 – Marking its second Escondido acquisition in just three months, SENTRE Partners has acquired 53 condo units in the Artesia community located at 101 S. Spruce Street in Escondido, California. The purchase also represents SENTRE Partners’ fifth San Diego County multi-family acquisition in the past four years.
Doug Arthur, President of SENTRE Partners, commented “We are excited to add another high quality, San Diego County apartment community to our growing portfolio. We intend to re-brand Artesia as a boutique community with condo spec interiors and upscale amenities for the renter looking for a walkable and transit oriented home within North County.”
The 53 units were purchased for $9,010,000, or $170,000 per unit, with financing provided by First Republic Bank. A fully renovated condo conversion in 2006, each unit boasts luxury interior finishes coupled with upgraded common area amenities including a pool, spa, fitness center and clubhouse.