Oceana Apartment Homes, Oceanside -- Photo courtesy of Institutional Property Advisors

Oceana Apartment Homes, Oceanside -- Photo courtesy of Institutional Property Advisors

The Apartment Co. of Encinitas has purchased the 100-unit Oceana Apartment Homes in Oceanside for $18.2 million, according to Institutional Property Advisors (IPA), a division of brokerage company Marcus & Millichap.

The seller of the property, at 180 Canyon Drive, was San Francisco-based Fowler Property Acquisitions LLC. IPA’s Christopher Zorbas, Stewart Weston, Alexander Garcia Jr., David Sperling and John Montakab represented the seller and procured the buyer.

The property was built in 1970 on a 180,338-square-foot lot. An IPA statement said “continued revenue-generating renovations” are planned.