MG Properties Expands San Diego Footprint with $91 Million Acquisition of Dylan Point Loma

MG Properties expands its San Diego portfolio with the $91 million acquisition of the 180-unit Dylan Point Loma Apartments, a premium asset in western San Diego.

By: AXL Media

Published: Mar 13, 2026, 6:14 AM EDT

Source: https://www.multihousingnews.com/

Strategic Portfolio Expansion in Western San Diego

In a move that underscores the continued institutional appetite for Southern California residential assets, MG Properties has finalized the purchase of Dylan Point Loma Apartments for $91 million. The acquisition of the 180-unit community was confirmed via Yardi Matrix data, following a competitive process where CBRE represented the seller, LaSalle Investment Management. This transaction is particularly notable for its valuation stability; the property last changed hands a decade ago in 2016 for $90 million, indicating a resilient hold in value despite shifting interest rate environments over the last ten years.

Asset Composition and Residential Infrastructure

Located at 2930 Barnard Street, the Dylan Point Loma community spans a generous nine-acre site in a sought-after residential pocket of western San Diego. The garden-style development consists of 19 individual buildings offering a mix of one-, two-, and three-bedroom floorplans. With an average unit size of 1,134 square feet, the property caters to a demographic looking for more substantial living space than the typical downtown high-rise. Notably, the asset includes a social responsibility component, with 15 units designated as affordable housing, helping to address the region’s critical need for diverse pricing tiers.

Luxury Amenities and Coastal Connectivity

The pet-friendly community is currently managed by Greystar and features a suite of high-tier amenities designed for the coastal lifestyle. Each residence is equipped with a private garage and a balcony or patio, providing a level of privacy and utility that is highly prized in the San Diego market. Shared facilities include a central clubhouse, a resort-style swimming pool and spa, a fitness center, and a volleyball court. Strategically positioned, the property sits less than two miles from Ocean Beach and roughly six miles from the central business district, offering a balance between recreational coastal access and urban proximity.