The Broe Group Enters Southern California as Part of Billion-Dollar Multifamily Initiative

Acquires San Diego's award-winning 20-Story Bankers Hill Luxury Multifamily Community Recognized for Iconic Panoramic Views and Idyllic Location

SAN DIEGO, Oct. 22, 2026 /PRNewswire/ -- Broe Real Estate Group (BREG), the real estate affiliate of the multi-billion-dollar Colorado investment firm The Broe Group, has acquired 525 Olive in San Diego. The 20-story, 204-unit luxury apartment building opened in August 2022 in San Diego's Bankers Hill neighborhood and earned CoStar's 2023's multifamily project of the year. The all-cash transaction was completed in 60 days. Walker & Dunlop's Hunter Combs advised on the transaction.

"525 Olive is San Diego's premier luxury living community in San Diego's most desirable submarket," said BREG Senior Vice President of Investments Milan Gutesha. "San Diego's dynamic economy, high-quality work force, and exceptional quality of life made this market a priority for our multifamily expansion. This acquisition reflects the very best of San Diego as we continue to explore further market expansion."

The development's long-term quality and durability provide the ideal foundation for market entry. Located on an elevated mesa next to the 1,200-acre Balboa Park, the Class AA multifamily property combines unparalleled proximity to San Diego's iconic park with unobstructed and expansive views of the downtown skyline and the sunsets over the San Diego Bay. 525 Olive's signature 20^th-floor SkyClub rooftop retreat blends a majestic vantage point with a sparkling rooftop swimming pool, sun club, and lounge.

"Broe's award-winning multifamily communities all combine exceptional location, luxury, and quality. 525 Olive embodies these core pillars," said BREG Executive Vice President of Portfolio Management Brian Chen. "This is a generational investment, and we are committed to building enduring relationships with the community and residents."

Founded in 1972 by industrialist Pat Broe, The Broe Group manages a $7 billion portfolio of multifamily, commercial, industrial, and rail assets. The Broe Group has existing rail and real estate holdings in California, yet this acquisition marks its entry into Southern California's multifamily market. San Diego combines global connectivity, economic vibrance, educational excellence, and unsurpassed quality of life. Exceptional proximity, walkability, and access are key development differentiators. 525 Olive provides easy access to downtown San Diego and North County job centers, local universities, and countless recreation destinations along the coast.

About Broe Real Estate Group

Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops, and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 50-year history of value-add real estate investing in Colorado and across the United States. We improve value through the implementation of focused business plans that increase cash flow and create stable income streams. Additional information is available at broerealestate.com

About The Broe Group

Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group's entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.

SOURCE The Broe Group