SAN DIEGO — Decron Properties has purchased Margo at The Society, a 240-unit property located at 201 Del Sol Drive in San Diego, for $125.5 million. The seller was not disclosed. The acquisition was completed through a 1031 exchange. Decron Properties sold two assets in Thousand Oaks, California — Los Robles Apartments for $102.5 million and Retreat at Thousand Oaks for $69 million — and reinvested a portion of those funds into Margo at The Society.
Margo at The Society comprises 240 apartments in one-, two- and three-bedroom layouts. Units feature quartz countertops, stainless steel appliances, designer backsplashes, soft-close cabinets and drawers, keyless entry and Nest thermostat systems. Amenities include a pool, fitness center, common area lounge and meeting spaces. The property is part of a mixed-use development that includes four multifamily communities.