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California  + San Diego  + Apartments  | 

Vista Apartments Go For $185M in San Diego’s Second-Largest Multifamily Deal YTD

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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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