July 8, 2016
San Diego-based Fairfield Residential divested Pulse Millenia, a 273-unit multifamily property in Chula Vista, CA to an affiliate of Milwaukee-based Northwestern Mutual Life Insurance Co. for $93.8 million. Construction was completed on the 9.28-acre, eight-building lifestyle-centric living complex in September 2015.
Pulse, the first apartment community to open at Millenia, features one, two and three bedroom units. The 94% leased community is next to Otay Ranch Town Center.
Pulse’s central plaza has a resort-style pool and lounge, outdoor grilling stations, fire features, cabanas, and showers. The property’s social lounge includes a gourmet kitchen, billiard table, media area and a separate private dining room.
Millenia is a 200-acre mixed-use development being developed by Dallas-based Stratford Land. The 80-block walkable mixed-use project includes commercial, retail, hotel and an array of housing.