Stos Partners, in partnership with multifamily operator Apartment Worth and an institutional investor, closed the sale of 938 N. Fig St., a 14-unit townhome complex in Escondido. The property sold for $7.9 million, or just over $564,000 per unit, reportedly the highest price-per-unit for a multifamily building along the State Route 78 corridor in the past year.
The transaction marks the sixth multifamily investment the partnership has completed together as it continues to pursue opportunities that align with its value-add investment strategy, focusing on the Southern California and Nashville multifamily markets.
“Through targeted capital improvements and strategic asset management, we enhanced the property’s value significantly, delivering excellent financial returns for our investment partners and continuing our track record of successfully transforming high-quality assets in growth markets,” said CJ Stos, founder and principal at Stos Partners.
EVP Peter Scepanovic and SVP Corey McHenry of Colliers represented Stos Partners and Apartment Worth in the sale.
