Mesirow has purchased Preserve at Melrose, a suburban multifamily community built in 2015 that comprises 410 units in Vista, one of San Diego's most sought-after North County neighborhoods.
The sales price was $185 million. The sale represents the second-largest single-asset transaction in San Diego and the fifth-largest in California year-to-date in 2024.
Walker & Dunlop represented the seller, a local San Diego–based group.
Located in the Vista submarket of San Diego, Preserve at Melrose is minutes from downtown Vista and is transit oriented, being adjacent to the light rail stations. The property is located off State Route 78, providing residents with direct access to major employment hubs along the 78 corridor, including Vista, Oceanside, Carlsbad, San Marcos and Escondido. The multifamily community offers one-, two- and three-bedroom apartments with resort-style amenities, all set within a serene, low-density garden-style setting.
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