February 21, 2020
San Diego-based Walz Properties has purchased the La Serena apartments for $8.3 million from SHS Development. Located at 345 E. Park Ave. in Escondido, CA, the property totals 37 units. Walz plans to engage in a strategic improvement program at the property, including interior and exterior enhancements.
This is the second trade from SHS to Walz in recent months, with Walz acquiring the 41-unit Mission Grande apartments in December of last year.
Marcus & Millichap’s Christopher Zorbas and Austin Ray Huffman represented SHS in the sale. This was the last in a series of six apartment sales completed by the duo for SHS in the San Diego region, including a sale of two properties to Horizon Capital Management earlier this month.
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