July 22, 2016
Mesa Garden, a 124-unit apartment complex in Vista, CA, was sold for $24.2 million. The private investment group buyer was Pine Vista Apartment Homes LLC, an affiliate of The Apartment Co. of Encinitas, CA.
Built on more than seven acres in 1977 and partially renovated in 2015, the community benefits from proximity to employment, strong local job growth, and comparative affordability. The property includes a swimming pool, spa, sauna, club house, billiard room, fitness center, full basketball court, and tennis court.
The Mogharebi Group’s Alex Mogharebi and Otto Ozen represented the seller, Pacific Development Partners, LLC. The Mogharebi Group also procured multiple offers and ultimately, the buyer at 97% of list price.
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