Updated Dec 4, 2024
Decron Properties Acquires 240-Unit Margo At The Society Multifamily In San Diego For $125.5M
201 Del Sol Drive
$125,500,000
Units
240
Asset Type
MultiFamily
Closing
Dec 11, 2023
About this deal
AI
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.
On the Map
$125,500,000
MultiFamily
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San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93