Monday, June 26, 2017

HFF closes sale of Alexan Melrose in San Diego, CA area

Alexan Melrose Apartments, 1401 North Melrose Drive, Vista, CA

Hunter Combs
 SAN DIEGO, CA  -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Alexan Melrose, a 410-unit, Class A apartment community in the northern San Diego suburb of Vista, California.

HFF marketed the property exclusively on behalf of Trammell Crow Residential and its joint venture partner.  MG Properties Group purchased the asset free and clear of existing debt.

Alexan Melrose is situated on approximately 20 acres at 1401 North Melrose Drive about seven miles from beachfront recreation and close to two full-service grocery stores, downtown Vista Village and Del Oro Marketplace. 

Completed in 2015, the three-story, garden-style community has one-, two- and three-bedroom units averaging 985 square feet with best-in-class finishes such as quartz countertops in the kitchens and baths, European-style cabinetry, stainless steel appliances, hardwood-style flooring, in-unit washers and dryers, soaking tubs and attached garages and carports. 

Community amenities include a resort-style pool and spa with cabanas, fire pit and grills; state-of-the-art fitness facility with kids’ entertainment suite; lounge with kitchen, billiards and gaming system; clubhouse with gourmet kitchen, coffee bar and flat screen TV; dog park and dog washing station; community garden; and outdoor tot lot.  The community is 97 percent occupied.

Sean Deasy
The HFF investment sales team was led by director Hunter Combs and senior managing director and co-head of the national multi-housing investment sales platform, Sean Deasy.

“This was a unique opportunity to acquire 410 highly-amenitized, transit-oriented units in the supply constrained submarket of Vista,” Combs said.  “Alexan Melrose is well-positioned for long-term growth resulting from its strategic location along the North County Sprinter line, giving residents a convenient commute to emerging downtown Vista and Cal State San Marcos.

“ Additionally, the property is near two of the State Route 78 corridor’s top employment hubs, Oceanside and Vista, with approximately 30,000 highly skilled jobs within industries such as life science, pharmaceuticals, action sports and information and communication technologies.”

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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