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What’s Hard to Find in SD’s Luxury Apts.

SAN DIEGO—Most luxury apartments in this market have been developed Downtown or in further-out suburban locations near freeway access, which can inhibit those communities from creating a sense of place, JLL Income Property Trust executives tell GlobeSt.com EXCLUSIVELY.

Allan Swaringen Allan Swaringen

SAN DIEGO—Most luxury apartments in the San Diego market have been developed Downtown or in further-out suburban locations near freeway access, which can inhibit those communities from creating a sense of place, JLL Income Property Trust’s president and CEO Allan Swaringen and managing director and portfolio manager Brian Kuzniar tell GlobeSt.com. The REIT recently purchased Dylan Point Loma here, a newly developed, ultra-luxury, 180-unit coastal apartment community that is within walking distance from the Pacific Ocean, for approximately $90 million from what Real Capital Analytics reports was Monarch Group. No other new apartments have been developed in this market within the last 30 years. We spoke exclusively with Swaringen and Kuzniar about the purchase and the luxury-apartment market in San Diego.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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