Decron Pays $126M for Second Acquisition in San Diego

Decron Properties has acquired Margo at The Society, a 240-unit, luxury multifamily community located just off Hotel Circle in San Diego, for $125.5 million. This is Decron’s second acquisition in the San Diego market but its first since 2015, when it acquired The Avenue at Carlsbad, a 450-unit apartment complex in Carlsbad, for $112 million.

The Los Angeles-based real estate investment, development and management firm intends to acquire 500 to 1,000 additional units in San Diego County over the next 24 months.

The acquisition was fueled through a 1031 exchange, with Decron selling two Thousand Oaks properties for a combined $171.5 million and reinvesting a portion of the funds into Margo at the Society. Decron continues to seek other trades to complete the Thousand Oaks exchange.

Opened in 2022 and located at 201 Del Sol Dr., Margo at The Society is part of a mixed-use development that includes four multifamily communities, surrounded by a variety of hotel, retail, restaurant and entertainment options, all within walking distance of the property. “Unlike most markets in California, San Diego continues to experience remarkable growth, powered by a surging presence from the tech, healthcare and biotech industries,” said Decron CEO David Nagel.