By Ben J. Costas, Hoodline

San Diego real estate investor Pacifica Companies has grabbed Chamoune Gardens, a three-story senior housing complex in the city’s Teralta East neighborhood, in a $12.6 million deal that puts fresh eyes on an aging but largely full affordable community. The 96-unit building at 4225 Chamoune Ave, which serves rent-subsidized seniors, was reported at about 95% occupied at the time of the sale. The purchase, the property’s first recorded sale in more than two decades, lands in the middle of an ongoing squeeze on affordable housing for older residents across the region.

According to CoStar, Pacifica Cos. acquired Chamoune Gardens from private investor Mark Ostrow for $12.6 million, which works out to roughly $131,250 per unit, with the property about 95% occupied at closing. Public listings and sales records tracked by Realtor.com show the complex was marketed in late February and recorded as sold on April 1, 2026. Industry records list ACRE Investment Real Estate Services as the brokerage firm tied to the transaction.