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2/03/26
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MG Properties has purchased Dylan Point Loma Apartments, a 180-unit multifamily community located in the highly sought-after Point Loma neighborhood of San Diego, for $91 mil, or $505k/unit. Located at 2930 Barnard St, the property is situated in one of San Diego’s most desirable coastal submarkets, offering residents convenient access to major employment centers, beaches, dining, and entertainment.
Dylan Point Loma Apartments features oversized floorplans averaging 1.1k sf in size and garages for each unit. The community boasts best-in-class amenities like a saltwater pool with cabanas, a state-of-the-art fitness center, resident and game lounge, and a dog park with a complimentary wash station. Residences at the property feature open layouts flooded with natural light, gourmet kitchens with quartz countertops and stainless steel appliances and upscale finishes.
We’re told that MG Properties plans to implement targeted capital improvements and operational enhancements designed to further elevate the property while preserving its neighborhood character.
The seller, LaSalle, was represented by Rachel Parsons, Derrek Ostrzyzek, Mike Murphy and Kenji Thomas with CBRE. Financing for the transaction was provided by Fannie Mae and arranged by Scott Peterson, Bill Chiles and Brian Cruz with CBRE.
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