JLL Capital Markets recently completed the sale and financing of Pulse Millenia, a 273-unit multi-housing community in Chula Vista’s Otay Ranch region. The property was sold for $116 million and JLL also secured a $71.842 million acquisition loan through Freddie Mac Multifamily on behalf of the buyer.
Pulse Millenia, located at 2043 Artisan Way, was built in 2016 as part of the larger $4 billion Millenia Master Plan within Otay Ranch. This development spans over 210 acres and features more than 200 retail options and over 3,000 luxury residences. It offers easy access to major highways such as the125-Hwy and805-Fwy.
The investment sales advisory team at JLL Capital Markets was led by managing director Kip Malo while executive managing director Charles Halladay, managing directors Annie Rice and Brandon Smith, along with senior director Rick Salinas handled debt advisory services for this transaction.
This recent deal marks Northwestern Mutual’s exit from their ownership position in this thriving area of Chula Vista.
