Townsend

JLL, as exclusive advisor, is pleased to present for sale The Townsend (the “Property”), a newly constructed, 100% market-rate, 277-unit luxury apartment community located in Mission Valley, San Diego. Completed in 2022, The Townsend represents a rare opportunity to acquire a leasehold interest in a generationally scarce, new-construction asset in one of Southern California’s most renter friendly submarkets, situated at the nexus of Mission Valley’s multibillion dollar revitalization.

Developed by The Dinerstein Companies, The Townsend is a five-story wrap community positioned along the San Diego River corridor with direct access to Interstate 8 and State Route 163. The Property’s central location delivers unmatched connectivity to 1.3M jobs within a 30-minute commute, while placing residents minutes from Downtown San Diego, San Diego International Airport, and UC San Diego. The submarket’s ±7.5 million square feet of office and ±5.2 million square feet of retail — anchored by the Fashion Valley and Westfield Mission Valley malls — provide a durable and growing demand base for luxury multifamily.

The Townsend distinguishes itself through a resort-calibrated amenity package — including a rooftop lounge with firepit and panoramic views, resort-style pool with tropical landscaping, a contemporary clubroom with billiards, and a state-of-the-art fitness center — paired with luxury interior finishes featuring quartz countertops, premium cabinetry, and private balconies, collectively setting the standard for luxury living in Mission Valley. The Property includes 9,500 SF of 100% occupied street-level retail anchored by Gravity Heights brewery and restaurant, Spill the Beans café, and Pacific Dental.

The offering is structured as a leasehold interest, underpinned by a 99-year, investor-friendly, ground lease with 92 years remaining and no fair market resets — among the most favorable ground lease structures in Southern California.