Gelt Adds Core Asset Volta on Pine to its Growing Portfolio

Gelt Inc. recently acquired Volta on Pine for $156 million. The 271-unit class-A apartment community is located at 635 Pine Ave. in downtown Long Beach.

“Volta on Pine is in the heart one of Southern California’s most desirable coastal cities for rental product,” said Keith Wasserman, partner with Gelt. “We are thrilled to add this core asset to our growing portfolio that now totals more than 5,000 units on a national basis.”

Volta on Pine was built in early 2021 on slightly more than 1 acre. The property includes 93 studios, 94 one-bedroom units, 66 two-bedroom units and 18 three-bedroom units with an average size of 849 square feet. Some units offer ocean views and balconies, and 11 are affordable.

Volta on Pine’s on-site amenities include a rooftop terrace, executive conference and meeting rooms, courtyard with fire pit, outdoor grilling areas with smart TVs, fitness center, parcel lockers, bike storage and fully equipped catering kitchen. There is also 1,300 square feet of ground-floor retail.