Waterton Acquires 406-Unit Veranda La Mesa Multifamily Community in Metro San Diego

by Amy Works

LA MESA, CALIF. — Waterton has purchased Veranda La Mesa, an apartment property located at 5353 Baltimore Drive in La Mesa, for an undisclosed price. The transaction marks Waterton’s first acquisition in the San Diego metro area. The name of the seller was not released.

Situated on 18 acres, Veranda La Mesa features 406 apartments in a mix of studio, one- and two-bedroom layouts. Onsite amenities include multiple clubhouses, four swimming pools, six spas, a fitness center, game room, co-working lounge, dog washroom, tennis court, six laundry facilities and two dog parks.

Waterton plans to implement a light value-add strategy across the common spaces while modernizing the remaining residences with new countertops, appliances, lighting, plumbing fixtures and flooring. The seller recently renovated the common areas and more than one-third of the residences.

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