South Gate Luxury Multifamily Sells for $130M
CBRE has announced the sale of Jefferson SoLA, a new 244-unit apartment complex in South Gate, CA for $130 million. The buyer was Standard Communities, a Los Angeles-based investor with a national portfolio of over 14,500 units. Standard Communities specializes in providing underserved areas with high-quality housing.
Located at 10930 Garfield Ave., the property offers a central location with excellent accessibility to Downtown LA, Long Beach and Orange County. The asset has an impressive list of amenities, including a pool and spa with cabanas, a fitness lounge, a private conference center and a dog park.
CBRE’s Dean Zander and Stew Weston brokered the sale. “Jefferson SoLA is well-positioned to take advantage of the demand for newer and luxury housing that has been sorely lacking in the Los Angeles County south cities,” said Zander in a news release. “The location, combined with the scope and quality of the asset, were a huge draw for the new owner.”
- ◦Sale/Acquisition
