FPA Multifamily sells multifamily asset for $101m

FPA Multifamily has sold Capella at Rancho del Oro, a 284-unit multifamily asset in Oceanside, Calif., for $101 million. The seller was Property West Residential, a local family office with more than 4,000 units under ownership and management.

Near downtown Oceanside and within proximity of Oceanside Harbor, this particular location is well positioned between the coast and adjacent to two of the main job nodes in North San Diego County — Palomar Airport District and Ocean Ranch.  Employers such as Rancho Del Oro Technology Park, Palomar Airport District and Ocean Ranch Corporate Center are conveniently accessible. Camp Pendleton is the largest employer in the area and employs thousands on the civilian side as well as active-duty service people. MiraCosta College, Palomar College and California State University, San Marcos are also close by. Shopping at Plaza Del Oro, Town Center North and Old Grove Marketplace is just minutes away.

The total sales price is the hig