VISTA – A Vista apartment complex, Preserve at Melrose, has been sold for $185 million in one of the biggest apartment sales in California in 2024 and the second largest of the year in San Diego County.
Built in 2015 with 410 apartments at 1401 Melrose Drive, Preserve at Melrose was sold by MG Properties Group based in Sorrento Valley to Mesirow Institutional Real Estate Direct Investments, a Chicago investment firm.
“San Diego (County) remains a top target nationally for investors, making up 10% of all U.S. multifamily transactions and 23% of those in California, year to date,” said Hunter Combs, managing director of investment sales at Walker & Dunlop.
Walker & Dunlop brokered the deal on behalf of MG Properties…