Walker & Dunlop, Inc. arranged the $185,000,000 sale of Preserve at Melrose, a 410-unit multifamily property in Vista. The company said the sale represents the second-largest single-asset transaction in San Diego and the fifth largest in California year-to-date in 2024.
The Walker & Dunlop Investment Sales team, led by Hunter Combs, represented the seller, a local San Diego based group, and the buyer, Mesirow.
“San Diego remains a top target nationally for investors, making up 10% of all U.S. multifamily transactions over $150 million and 23% of those in California, year-to-date since 2023,” said Combs. “San Diego’s market strength is propelled by its historically consistent rent growth, strong fundamentals and high barriers to entry. The influx of life science surrounding UCSD and big tech companies establishing their presence here, in addition to the longstanding defense industry, underscores San Diego’s exceptional market resilience and attractiveness for investors.”
