Northwestern Mutual announced the $116 million sale of Pulse Millenia, a 273-unit, garden-style multi-housing community located in the Otay Ranch region of Chula Vista, Calif.
JLL worked on behalf of the seller and worked on behalf of the new owner to secure the $71.8 million seven-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo lender.
Built in 2016, Pulse offers one-, two- and three-bedroom floor plans averaging 970 square feet. Unit interiors are offered in both a light and dark design package, each with full stainless-steel appliance sets, granite countertops, wood-style flooring throughout living spaces and an in-unit washer/dryer set. Community amenities include a central sundeck plaza with a heated pool and spa, a 24-hour fitness center, a social lounge with a billiard table and kitchen, a multi-station business center, a conference and private dining room, a multi-sport/bocce ball
