Image via Sunterra
Written by The Business Journal Staff
IDEAL Capital Group, a company based out of Clovis, has announced a major real estate purchase in the San Diego area.
According to press release put out by IDEAL, the group made the acquisition of Sunterra Apartment Homes in Oceanside for $66.25 million last week. The property features 240 units, a pool and children’s wading pool, fire pits, common areas and a fitness center. The complex is a mile’s distance from Vista Way, the retail corridor for Oceanside residents, and is within commuting distance of Camp Pendleton, UC Sand Diego, Coca Cola, Legoland and the Tri Cities Medical Center.
“Oceanside is a market in transition,” said Austin Herzog, IDEAL Capital president. “As one of California’s last affordable beach cities, Oceanside residents have perfect year-round weather and the ability to access some of the world’s top employers. We plan on converting Sunterra into an amenity-rich home for value-conscious residents of North San Diego County.”
With the acquisition of Sunterra, IDEAL has completed $170 million of development volume this year.