A joint venture between Lowe and LaSalle Investment Management has sold IDEA1, a 295-unit apartment complex in San Diego, to Fairfield for $106 million. Built in 2017 by Lowe, the property is located in the East Village of Downtown San Diego.

Lowe built the property as a live-work-play environment with an onsite business center, co-working space and conference room. The property also features a rooftop clubroom, a sundeck with outdoor barbecues and firepits, a rooftop spa, a 24-hour fitness center, the HUB flexible event space, on-site restaurants and an art gallery as part of the amenity package. The residential units come in a mix of studios, one- and two-bedroom units and feature 12-foot ceilings, dual-pane vinyl windows, full-size washers and dryers, stainless steel appliances, quartz countertops.

The property is centrally located near Mission Valley, Kearney Mesa, UTC and Sorrento Mesa, all strong job centers. It is located only a five-minute drive from the I-5 and I-163. The JLL Capital Markets Sales and Advisory team represented the seller in the deal, led by managing director Darcy Miramontes and director Kip Malo.