Richard Price Of Mesirow Acquires Multifamily Asset From Bob Faith Of Greystar For $180.5M

The Grand at Palomar Heights is a multifamily asset located at 101 Chamomile Glen, Escondido, CA. The property was sold for $180,500,000 and consists of 420 units, resulting in a price per unit of $429,762. The community features one- to three-bedroom apartments and townhomes, along with amenities such as a pool, fitness center, and coworking spaces. The development was completed in 2025 through the redevelopment of a former hospital.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $180,500,000
• Buyer: Richard Price - Mesirow
• Seller: Bob Faith - Greystar
• Lender: AIG
• Units: 420
• Price Per Unit: $429,762

Richard Price represented Mesirow in the acquisition of the property from Bob Faith, who represented Greystar. The purchase was financed with a $112 million loan from AIG, facilitating the acquisition of this luxury apartment community.