Thursday, October 5, 2017

IEC Signals Long-Term Commitment to San Diego with Acquisition of Value-Add $33.95 Million Multifamily Community


IEC Buys 133-Unit Apartment Community in La Mesa, San Diego, CA


 San Diego, CA – Institutional fund manager Interstate Equities Corporation (IEC) has moved into the San Diego market with the $33.95 million acquisition of a 133-unit, value-add multifamily asset in the La Mesa submarket of San Diego.

Marshall Boyd
This acquisition was on behalf of the firm’s IEC Institutional Fund III, L.P., a fully discretionary, $200 million commingled fund targeting value-add multifamily investments throughout coastal California.

“Entering the San Diego market is a natural progression for our firm’s investment platform,” says Marshall Boyd, Co-President and Chief Investment Officer of IEC.

 “We are extremely selective buyers and specialize in strategically acquiring unrenovated or partially renovated assets in coastal infill markets in the Bay Area and top markets in Southern California. 

"Over the years, as our firm has researched San Diego, we came to recognize the San Diego multifamily market is operationally resilient and has many similar characteristics to our best markets. This is why the extension was natural for our firm.”

More information is available at www.interstateequities.com.

For more information on this press release, please contact:

    Lauren Burgos/ Jenn Quader
    Brower, Miller & Cole
    (949) 955-7940


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