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South Gate Luxury Multifamily Sells for $130M

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.”

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CBREStandard CommunitiesDean Zander

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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