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Real Estate/Development

Aug. 16, 2016

JLL pays $90M for Dylan Point Loma Apartments

The apartment complex was sold by The Monarch Group, a long-time La Jolla-based apartment investor and developer, which built the complex.

Chicago-based JLL Income Property Trust recently paid $90 million, or $500,000-per-unit, for the newly completed, 180-unit Dylan Point Loma Apartments at 2930 Barnard Street.

The purchase was financed by an approximately 45 percent loan-to-value 10-year instrument with a fixed rate of 3.83 percent.

The apartment complex was sold by The Monarch Group, a long-time La Jolla-based apartment investor and developer, which built the complex.

The Monarch Group paid $16.5 mil...

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