Decron Properties Acquires 240-Unit Margo At The Society Multifamily In San Diego For $125.5M

Decron Properties has acquired the 240-unit Margo at The Society in San Diego for $125.5 million. The multifamily property is located at 201 Del Sol Drive and is part of San Diego's thriving market. The purchase aligns with Decron's strategy to diversify its portfolio, reduce exposure to rent control legislation, and meet the demand in the area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $125,500,000
• Address: 201 Del Sol Drive
• Market: San Diego
• Buyer: Decron Properties - David Nagel
• Units: 240
• Price Per Unit (PPU): $522,917

Decron Properties, represented by David Nagel, completed the acquisition using a 1031 exchange from the sale of two Thousand Oaks properties. This strategic move allows Decron Properties to expand its portfolio and capitalize on the thriving market in San Diego.