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Vista Deal is San Diego’s Second Largest MF Sale of 2023
Walker & Dunlop, Inc. completed the $174-million sale of Waterleaf, a 456-unit value-add apartment community located in the North San Diego County community of Vista. The sale represents the second-largest multifamily transaction in San Diego in 2023.
The Walker & Dunlop Investment Sales team, led by Hunter Combs, represented the seller, MG Properties Group, and the buyer, MIG Real Estate. The buyer was able to assume the loan in place at the property.
“We are thrilled to secure a suitable price for our client despite the ever-changing economic environment,” said Combs. “San Diego remains as a top institutional metro, with a commanding 50% market share in California and a leading 14% share nationally for transactions exceeding $150 million year-to-date.
“A significant driver of San Diego’s market strength is its leading position in rent growth, outperforming all California markets and ranking fifth nationally at 5.1% in 2023. This speaks to the exceptional durability of San Diego’s market fundamentals and tenant base.”
- ◦Financing
