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EL CAJON-A 38-unit apartment asset has traded hands in El Cajon, as the region is still ripe with multifamily deals.

Ghassan Fares has shelled out $3.2 million for the property, which stands at 475-479 Graves and 303 E. Madison. Known as Greenbough Apartments, the asset has been sold by U.K. Capital LLC as part of a $7-million multifamily portfolio. Built in 1980, Greenbough Apartments is a garden-style project comprised of 14 one-bedroom, one-bath units and 24 two-bedroom, one-bath units.

Peter Scepanovic of Colliers International represented U.K. Capital in the recent sales transaction. Allen Chitayat of ACI Commercial acted on behalf of Ghassan Fares.

The Greenbough Apartments sale is one of the latest in a steady stream of multifamily transactions to close in El Cajon in recent weeks. Two other recent deals include the townhome asset located at 431 Van Houten, which traded hands for $1.4 million, and the Cameron Apartments complex that sold for $3 million.

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