Piazza D’Oro, a 221-unit multifamily and mixed-use complex in Oceanside which includes 17,000 square feet of leasable office space, sold for $81 million.
The complex was purchased by TruAmerica Multifamily, a Los Angeles-based real estate investment firm led by industry veteran Robert E. Hart and The Guardian Life Insurance Company of America. The deal is the first acquisition for the new multifamily investment firm.
CBRE Multi-Housing Investment Properties group represented the seller, Piazza D’Oro LLC, an affiliate of The ConAm Group.
The complex, which is just north of state Route 78, has 42 buildings on 14.4 acres. The property’s three-story townhomes consist of two- and three-bedroom units. TruAmerica says it intends to upgrade some of the common areas, such as adding new pool furnishings and other amenities, completion of an updated leasing office and the installation of a modern signage package.
— SDBJ Staff Report