Walker & Dunlop, Inc. has successfully facilitated the sale of Preserve at Melrose, a 410-unit multifamily property located in Vista. The transaction, valued at $185 million, is the second-largest single-asset deal in San Diego and ranks as the fifth largest in California so far this year.
The investment sales team from Walker & Dunlop led by Hunter Combs represented both parties involved – a local San Diego-based group as the seller and Mesirow as the buyer.
According to Combs, San Diego continues to be a highly sought-after market for investors nationwide with 10% of all U.S. multifamily transactions over $150 million taking place here and accounting for 23% of those in California since last year. He also noted that factors such as consistent rent growth, strong fundamentals and limited competition make it an attractive market for investors. Additionally,the presence of life science companies near UCSD along with major tech firms establishing themselves here further highlights San Diego’s resilience and appeal to potential buyers.
