An Escondido apartment complex has been sold for $34.7 million.
Sage Apartments, 1920 and 960 E. Grand Ave., was sold by Clear Sky Escondido to Subsidiaria de Santa Jacinto, LLC
Peter Scepanovic and Corey McHenry of Colliers International San Diego Region’s Multifamily Advisory Group represented Clear Sky of Escondido.
Subsidiaria de Santa Jacinto was represented by Wonder Dog Realty.
The 86,748 square-foot complex was undergoing renovation, which the new owner plans to continue.
The complex has 137 apartments, primarily one-bedroom and two-bedroom units.
“During a currently difficult time in the market, our team is both grateful and proud to close this sale by collaborative working with all parties involved,” Scepanovic said. “With the property’s ideal location in the growing Escondido community, the Sage Apartments will continue to be a strong investment with positive future potential for the new ownership as it has been for the seller.”
By Ray Huard