Morning View Terrace & Terrace Gardens

Intercontinental purchased Morning View Terrace and Terrace Gardens in late 2016. The Portfolio encompasses two Class B-, age restricted (55+) apartment communities that total 551 units in Escondido, California. Morning View Terrace has 326 units and an average unit size of 730 sf while Terrace Gardens has 225 units and an average unit size of 776 sf. Escondido is located within San Diego County and approximately 30 miles northeast of Downtown San Diego and 55 miles south of Orange County. Terrace Gardens is located less than 1 mile south of Morning View and just across Highway 78 from the Property are several retailers and restaurants.