Institutional Property Advisors Closes San Diego County Multifamily Asset Sale
July 28, 2025
EL CAJON, Calif., July 28, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Terre at Ballantyne, a 60-unit apartment property in El Cajon, California. The asset traded for $14.4 million.
“One of the most populated areas in the San Diego MSA, El Cajon has the largest concentration of apartment inventory in the county,” said Chris Zorbas, IPA executive managing director. “El Cajon’s compact renter base and the increased demand for large units and green space help keep vacancy low.” Zorbas and IPA’s Alexander Garcia, Jr., and Kyle Pinkalla represented the seller and procured the buyer. “At the time of the sale, the property was 97% occupied with 40% of the units renovated,” said Garcia.
Terre at Ballantyne is less than one mile from Downtown El Cajon and Parkway Plaza, a 160-store indoor mall. The Grossmont Center outdoor shopping mall and Sharp Grossmont Hospital are nearby. Downtown San Diego is within a short drive.
The property is a 10-building, two-story asset with two swimming pools and two laundry facilities. Apartments have air conditioning and heating, large closets, and select units have a private patio or balcony.
“One of the most populated areas in the San Diego MSA, El Cajon has the largest concentration of apartment inventory in the county,” said Chris Zorbas, IPA executive managing director. “El Cajon’s compact renter base and the increased demand for large units and green space help keep vacancy low.” Zorbas and IPA’s Alexander Garcia, Jr., and Kyle Pinkalla represented the seller and procured the buyer. “At the time of the sale, the property was 97% occupied with 40% of the units renovated,” said Garcia.
Terre at Ballantyne is less than one mile from Downtown El Cajon and Parkway Plaza, a 160-store indoor mall. The Grossmont Center outdoor shopping mall and Sharp Grossmont Hospital are nearby. Downtown San Diego is within a short drive.
The property is a 10-building, two-story asset with two swimming pools and two laundry facilities. Apartments have air conditioning and heating, large closets, and select units have a private patio or balcony.
# # #
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.