Institutional Property Advisors Brokers Multifamily Asset Sale in North County San Diego
August 26, 2026
ESCONDIDO, Calif., Aug. 26, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Pacifica Palms Apartments, a 189-unit multifamily property in Escondido, California. The asset traded for $33.6 million.
“The Escondido submarket has seen limited availability of multifamily assets of this size, making Pacifica Palms a rare, large value-add investment opportunity in a supply-constrained market,” said Chris Zorbas, IPA executive managing director. Zorbas and IPA’s Alexander Garcia, Jr., IPA executive managing director, represented the seller, Pacifica Palms LLC, and procured the buyer, a joint venture between Stratford Partners and LLJ. “Escondido continues to grow and home prices have increased 19% since 2021,” said Garcia. “The disparity between monthly living expenses for renting vs. owning should sustain low vacancy and place upward pressure on Escondido’s rental prices for the foreseeable future.”
The property is located on E. Washington Avenue, 2.5 miles from Downtown Escondido, near shopping and dining at the Felicita Town Center, and public transportation at the Escondido Transit Center. The State Route 78 corridor, home to over 292,700 jobs, a 3.4% unemployment rate, and a median annual household income of more than $91,400 is nearby.
Built in 1965 on four parcels totaling eight acres, Pacifica Palms Apartments is a gated-entry, 20-building property with a children’s playground and picnic park, laundry facilities, and open parking spaces. Apartments have laminate flooring, heating, and air conditioning.
“The Escondido submarket has seen limited availability of multifamily assets of this size, making Pacifica Palms a rare, large value-add investment opportunity in a supply-constrained market,” said Chris Zorbas, IPA executive managing director. Zorbas and IPA’s Alexander Garcia, Jr., IPA executive managing director, represented the seller, Pacifica Palms LLC, and procured the buyer, a joint venture between Stratford Partners and LLJ. “Escondido continues to grow and home prices have increased 19% since 2021,” said Garcia. “The disparity between monthly living expenses for renting vs. owning should sustain low vacancy and place upward pressure on Escondido’s rental prices for the foreseeable future.”
The property is located on E. Washington Avenue, 2.5 miles from Downtown Escondido, near shopping and dining at the Felicita Town Center, and public transportation at the Escondido Transit Center. The State Route 78 corridor, home to over 292,700 jobs, a 3.4% unemployment rate, and a median annual household income of more than $91,400 is nearby.
Built in 1965 on four parcels totaling eight acres, Pacifica Palms Apartments is a gated-entry, 20-building property with a children’s playground and picnic park, laundry facilities, and open parking spaces. Apartments have laminate flooring, heating, and air conditioning.
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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.