Alasdair Cripps Of Mesirow Acquires Preserve At Melrose Multifamily In Vista For $185M

The transaction involved the sale of Preserve at Melrose, a multifamily property located at 1401 North Melrose Drive in Vista. The asset encompasses 410 residential units, positioning it as a key player in the local market, which reflects a steady demand for multifamily living in the area. The sale was executed for a price of $185,000,000, resulting in a price per unit of $451,220.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $185,000,000
• Units: 410
• Price Per Unit: $451,220
• Buyer: Alasdair Cripps - Mesirow
• Broker: Hunter Combs - Walker & Dunlop

Hunter Combs of Walker & Dunlop arranged the sale, which marks the second-largest single-asset transaction in San Diego for the year. The buyer, Alasdair Cripps, represents Mesirow in this significant deal, which underscores the robustness of the San Diego multifamily market, driven by factors including rent growth and high demand stemming from employment hubs.