JPI Sells Three Multifamily Properties in Anaheim

Developer JPI is selling three properties, dubbed Stadium Park, in Anaheim’s Platinum Triangle. They consist of a total of 1,079 apartment units at the Jefferson Rise, Jefferson Edge properties and at the REVO development. The deals end a three-phase development project JPI entered into six years ago after receiving approval from the Anaheim Mayor and Anaheim City Council.

“These successful transactions represent a six-year-plus effort by JPI, supported by (Grand China Fund’s) keen insight into the U.S. market and MORE Residential’s expertise in maximizing opportunities to create its best-in-class residential portfolio,” Patty Bartlett, JPI’s executive vice president and regional managing partner, said.

JPI partnered with Beijing-based private equity real estate fund Grand China Fund, to develop Jefferson Rise and Edge. REVO was a joint venture between JPI and MORE Residential. The phased development project is adjacent to the Los Angeles Angels of Anaheim Stadium.