Odyssey Properties Group is pleased to announce the recent, successful closing of The Palm Spring Apartments – a value-add investment opportunity. The Palm Spring Apartments is a 75-unit apartment complex, well located in La Mesa, CA (a submarket of San Diego). The property was purchased for $17,000,000 and is 95% occupied. The most recent appraisal for Palm Spring Apartments came in at $18,530,000.
Palm Spring Apartments will be a welcome addition to our portfolio, which now includes 4,000 multifamily units, 1,200 senior housing units, 1.3 million square feet of commercial properties, spread across 28 cities and 13 states, with a market value of $550,000,000.
Odyssey Properties Group is focused on providing secure, attractive investment returns via the strategic acquisition and asset management of multifamily properties in emerging U.S. markets of stability and growth.