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SAN DIEGO – Alliance Residential has purchased the 549-unit Coronado Bay Club for $160 million. The community is located at 1515 Second Street on the island of Coronado, just across from Downtown San Diego.
The deal was brokered by Jones Lang LaSalle on behalf of LaSalle Investment Management. Alliance's joint venture partner in this acquisition was a large institutional pension fund investor with MetLife Real Estate Investors serving as lender.