SAN DIEGO — Interstate Equities Corporation (IEC) has purchased the 133-unit Verse La Mesa apartment complex in San Diego for $34 million. The value-add community is located at 7400 Parkway Drive in La Mesa. It was built in 1976 and is currently 96 percent occupied. The property will be rebranded as The Cove. It will also undergo renovations, including the installation of washers, dryers and dishwashers, new paint, laminate wood floors and upgraded fixtures throughout the units. Shane Shafer, Ed Rosen, John Chu, and Kyle Pinkalla of Berkadia executed the transaction.