Broe Real Estate Group (BREG), the real estate affiliate of the multibillion-dollar Colorado investment firm The Broe Group, has acquired 525 Olive in San Diego. The 20-story, 204-unit luxury apartment building opened in August 2022 in San Diego’s Bankers Hill neighborhood and earned CoStar’s 2023 multifamily project of the year. The all-cash transaction was completed in 60 days. Walker & Dunlop’s Hunter Combs advised on the transaction.
“525 Olive is San Diego’s premier luxury living community in San Diego’s most desirable submarket,” said Milan Gutesha, senior vice president of investments at BREG. “San Diego’s dynamic economy, high-quality workforce and exceptional quality of life made this market a priority for our multifamily expansion. This acquisition reflects the very best of San Diego as we continue to explore further market expansion.”
The development’s long-term quality and durability provide the ideal foundation for market entry. L
