By KAREN VELIE
An investment group recently purchased Vintage at SLO, a 105 unit apartment complex located in San Luis Obispo on Ranch House Road, for $51 million.
Built in 2020, the complex includes a pool and spa, fitness center, an outdoor workout area, dog washing station, community lounge and coffee bar. There are 28 studios, seven one bedroom and 56 two bedroom apartments.
IDEAL Capital Group, based in Clovis, announced the acquisition on Tuesday. The group acquires, manages and develops multifamily housing on behalf of institutional and private equity investors.
“As a firm located in the heart of the Central Valley, we recognize the long-term value growth and high barriers to entry of Central Coast real estate,” said Kevin Conway, managing director at IDEAL Capital Group. “Vintage at SLO is an irreplaceable, high-quality asset located adjacent to technology companies, hospitals and Cal Poly San Luis Obispo.”