26
EL CAJON, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Terre at Ballantyne, a multifamily property in El Cajon. The asset traded for $14.4 million. Chris Zorbas, Alexander Garcia Jr. and Kyle Pinkalla of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terra at Ballantyne features 60 units spread across 10 two-story buildings. Apartments offer air conditioning and heating, large closets and patios or balconies on select units. Community amenities include two swimming pools and two laundry facilities. At the time of sale, the property was 97 percent occupied with 40 percent of the units renovated.