ACPRE Monarch Vista Venture LP, including The Archon Group and Monarch Group, sold the 314-unit Monarch at Shadowridge Apartments in Vista, CA to Invesco Advisors, Inc. for $80.4 million, or approximately $256,000 per unit.
The 714,990-square-foot multifamily community consists of one-, two-, and three-bedroom units in 29 buildings. It was built in the 2000s at 1802 - 1950 Thibodo Rd., located just off Interstate-78 in the Vista Community submarket of San Diego County.
Darcy Miramontes, Diane Miramontes, and Kip Malo of Jones Lang La Salle Brokerage, Inc. represented the buyers in the sale.
Please see CoStar COMPS #2236872 for more information on this transaction.