StreetLights Residential Sells San Diego-Area Asset
Located within the Vista submarket, the community came online in 2020.
StreetLights Residential has sold The Rylan, a 126-unit community in downtown Vista, Calif., to Rockwood Capital. Hunter Combs, managing director of investment sales for Walker & Dunlop brokered the deal, representing both parties.
Completed in 2020, the property incorporates studio, one- and two-bedroom floorplans, with units ranging from 593 to 1,936 square feet, according to Yardi Matrix data. The asset also includes five curated ground-floor retail spaces totaling 12,000 square feet.
Community amenities encompass a fitness center, business center, clubhouse, swimming pool and spa. Apartment interiors feature in-unit washers and dryers, digital locks and high-speed internet access.
Located at 100 Main St., the 1.2-acre site is roughly 9 miles from freeways 5, 15 and 78, which provide access to large employers operating in North County. Part of Old Town Vista, the area offers access to a walkable hub of various retail, dining and entertainment options.
Combs mentioned in prepared remarks that Vista is one of San Diego’s fastest-growing submarkets, adding that acquiring a boutique community in the heart of the city represented a rare opportunity. Earlier this year, he also brokered the purchase of a 208-unit luxury community within the East Village neighborhood of downtown San Diego. That same month, Combs was also involved in the $156 million sale of another Southern California asset.