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| Alexan Melrose Apartments, 1401 North Melrose Drive, Vista, CA |
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| 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.
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| 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 | hfflp.com
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