San Diego–Higher occupancies and rising rental rates in the Southern California apartment market are creating a significant demand for investment sales expertise, prompting Jones Lang LaSalle to hire Darcy Miramontes as an executive vice president in the Capital Markets business. Miramontes will steer the firm’s growth strategy in this market, working under the direction of Managing Director David Young. She will also partner with Irvine-based Managing Director Joe Leon, who joined the Capital Markets team in May.
Young says that JLL has seen “huge cap-rate compression in Southern California as investors angle for core properties in the coastal markets.” The firm has made more than 60 new hires to the multifamily team in the past two years, showing a clear focus in ths market.
Miramontes has spent the past 11 years as an investment and multifamily sales specialist at a major commercial real estate firm, responsible for the sale of more than 8,000 multifamily housing units totaling more than $720 million. Additionally, Diane Miramontes will join the firm as executive vice president. She has been responsible for the sale of more than 18,000 multifamily housing units totaling more than $1.25 billion during her career. They will be joined by Vice President Kip Malo, who has spent the past five years as an investment and multifamily sales specialist with a major commercial real estate firm.