Among the largest local apartment transactions of the first quarter was AvalonBay Communities’ purchase of the 450-unit Waterstone Carlsbad for $78.1 million.

Among the largest local apartment transactions of the first quarter was AvalonBay Communities’ purchase of the 450-unit Waterstone Carlsbad for $78.1 million. Photo by Photo courtesy of CoStar Group

In the six months since it formally took over Vantage Pointe in downtown San Diego, after buying the former high-rise condo project for $200 million and converting it to apartments, Equity Residential has leased about 400 of the upscale property’s 679 units...

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