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JLL facilitates sale of Dylan Point Loma
Tight market conditions and a limited pipeline continue to make San Diego's multifamily sector a sound investment. JLL's Capital Markets experts today announced the firm facilitated the sale of Dylan Point Loma in San Diego, a newly completed luxury, coastal multifamily community. A LaSalle Investment Management fund purchased the 180-unit community.
Executive Vice President Darcy Miramontes and Vice President Kip Malo led the JLL team on the sale.
"Dylan Point Loma represents the first new development in Point Loma in 30 years," said Miramontes. "Brand new, coastal construction of this caliber is extremely rare in this market, which made this asset a solid investment for years to come."
Located just minutes from the intersection of Interstates 5 and 8, Dylan Point Loma is a gated community that offers premium amenities including a volleyball court, a saltwater pool surrounded by cabanas, a 6,000-square-foot clubhouse, a dog park with a dog wash station, a state-of-the-art fitness center and a game lounge with high-definition televisions. Tenants can also take advantage of personal on-site storage.
In-unit amenities include wood plank style flooring, Whirlpool stainless steel appliances, washer and dryer, central heating and air conditioning, and gourmet kitchens with quartz countertops and tile backsplashes. Select units include garage parking.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
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JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visitwww.jll.com.
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