Pulse Millenia in Chula Vista, California

JLL Capital Markets Arranges $116 Million Sale of Pulse Millenia in San Diego Suburb

by Channing Hamilton

CHULA VISTA, CALIF. — JLL Capital Markets has arranged the $116 million sale of — and $71.8 million in acquisition financing for — Pulse Millenia, a 273-unit community in the San Diego suburb of Chula Vista. JLL represented the seller, Northwestern Mutual, in the deal. JLL also worked on behalf of the new owner to secure a seven-year, fixed-rate loan through Freddie Mac Multifamily.

Built in 2016, Pulse Millenia was the first community to be constructed as part of the $4 billion Millenia, a master planned development in Chula Vista’s Otay Ranch area. The community offers one-, two- and three-bedroom units with an average size of 970 square feet. Amenities include a sundeck plaza with a pool and spa, fitness center, social lounge, business center, conference and private dining room, bocce ball court and barbecue grilling stations.

Kip Malo led the JLL Capital Markets Investment Sales Advisory Team. Charles Halladay, Annie Rice, Brandon Smith and Rick Salinas led the JLL Capital Markets Debt Advisory Team. The loan will be serviced by JLL Real Estate Capital LLC.

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