MG Properties Acquires Chula Vista Multifamily For $116M Via JLL

Pulse Millenia, a 273-unit multifamily property located at 2043 Artisan Way in Chula Vista, has been sold for $116 million. The buyer, MG Properties, was represented by Mark Gleiberman from MG Properties. The seller, Northwestern Mutual, was represented by John Schlifske. The deal was facilitated by Kip Malo from JLL.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $116,000,000
• Address: 2043 Artisan Way, Chula Vista
• Market: Chula Vista
• Buyer: Mark Gleiberman - MG Properties
• Seller: John Schlifske - Northwestern Mutual
• Broker: Kip Malo - JLL

JLL also secured a $71.8 million Freddie Mac loan for the buyer. The mortgage brokers involved in the transaction were Annie Rice, Brandon Smith, Charles Halladay, and Rick Salinas, all from JLL. Yardi Matrix data reveals that the property had previously been sold in 2016 for $93.8 million.