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Colliers Brokers $7.25 Million Sandpiper Apartments Sale

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Property sold for over $1,000 per square foot

San Diego, Calif. – January 7, 2021 – Colliers today announced the sale of Sandpiper Apartments, a completely renovated 16-unit multifamily property located at 715 Cohasset Court, San Diego, CA 92109. Positioned 100 steps to the boardwalk and directly adjacent to the affluent South Mission Beach, the asset was fully stabilized, 100 percent leased before disposition, and sold for over $1,000 per square foot. Colliers' Executive Vice President, Peter Scepanovic, and Senior Vice President, Corey McHenry, represented the seller in the transaction.

"Sandpiper Apartments delivered a rarely offered long-term asset," said Scepanovic. This highly desirable property and location attract upscale residents with substantial income and strong credit ratings. With the influx of high-paying tech and biotech companies continue to enter the region, San Diego's multifamily investment market remains firm."

Interior property upgrades featured quartz countertops in kitchens and baths, white shaker cabinets in kitchen and baths, luxury vinyl plank flooring throughout, in-unit stackable washer/dryers, upscale front doors with key-less entries, modern paint, baseboards, and molding. Exterior renovations included a new roof, vinyl windows, stucco patch repair, fresh paint, landscaping, code security gates, and a BBQ/lounge area. The property also features a rooftop deck with 360 views of the Pacific Ocean and Sail Bay.

Media Contact:

Leanne Daly
leanne.daly@colliers.com
760-930-7941

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.


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Colliers Brokers $7.25 Million Sandpiper Apartments Sale

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Peter Scepanovic

Executive Vice President

Carlsbad

Peter specializes in the sale of Multi-Family Investment Real Estate throughout Southern California, with a specific emphasis on the San Diego area.  In his 30+ year career he has been involved in transactions in excess of “One Billion Dollars”, representing Private Capital, Institutional Clients, and Lenders.  Peter has received numerous “Top Producer” awards, and has been previously awarded the designation as the “Colliers International Top Apartment Broker in the Nation”.   Peter also is a 2015 inductee in the Colliers International Everest Club - Top 10 Percent of all Colliers Professionals in the Americas Region (North and South America).
 

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Corey McHenry

Senior Vice President

Carlsbad

Corey specializes in the sale of Multi-Family Investment Real Estate throughout Southern California, with a specific emphasis on San Diego County.  Having  joined Colliers in 2008, Corey is a member of the San Diego Multi-Family Advisory Group along with Peter Scepanovic.  Since 2007, Corey has completed in excess of $600 Million of real estate transactions, representing Private Capital, Institutional Clients and Lenders.  The Scepanovic-McHenry San Diego Multi-Family Team  is the top Multi-Family Brokerage Team in the Colliers  San Diego  Region.  Prior to joining Colliers, Corey began his career at Cushman & Wakefield.

Corey and his wife, Marleigh, are active in their local church and have two daughters and one more on the way.  

TEAM WEBSITE: ScepanovicMcHenryApartments.Colliers.com

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