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News release

San Diego

North County luxury residential community sells

JLL completes sale of 314-unit Monarch at Shadowridge in Vista

VISTA, Calif., June 12, 2018 – JLL's Capital Markets, Multifamily experts today announced the sale of Monarch at Shadowridge, a 314-unit institutional-quality residential community in Vista, California.  The buyer was private multifamily investor Pacific Urban Residential.  

Darcy Miramontes, Kip Malo, David Young, Jeff Price and John Cunningham led the JLL team handling the sale.

"This asset provided the buyer with an exceptional opportunity to take a well-located, stabilized and mature institutional quality multifamily property and create additional future value through a strategic renovation program," said Miramontes.     

Built in 2005 to condo quality standards, Monarch at Shadowridge is a low-density community with 29 apartment buildings, a clubhouse and a saltwater pool on more than 21 acres. Amenities include a 19-seat movie theatre, outdoor barbecue areas and private cabanas, a community kitchen and dining room, coffee lounge and game room as well as a fitness center and yoga room.

Monarch at Shadowridge sits adjacent to a larger master-planned community within easy access of the I-78 corridor, one of the region's largest employment hubs. The suburban North County market has seen only 14 new communities delivered since 2000. The market continues to lack new supply due to tough entitlement processes, fully built-out communities and geographic constraints.

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation's largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit