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12/28/17
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San Diego-based MG Properties Group paid $117.5 mil for Waterleaf Apartments, a 456-unit ($257.7k/unit), garden-style multifamily property in Vista. The property, located at 333 N. Emerald Dr, was sold by a venture of New York-based Investcorp International Inc and Los Angeles-based TruAmerica.
Built in 1984, the property sits on a 19.85-acre site and features a mix of one- and two-bedroom units with washer/dryers, patios or balconies and carports. Residents can enjoy community features such as two fitness centers, two swimming pools and spas, a dog park, a tennis court and a business center.
The property is situated along the Innovate 78 Corridor and is approximately 40 miles from downtown San Diego.
Ed Rosen, John Chu, Kyle Pinkalla and Erin Dammen of Berkadia represented the sellers in the transaction.
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