Standard Communities Acquires Six-Property Affordable Portfolio 

(Updated with additional information)

Standard Communities, a leading national developer and investor in affordable and workforce housing, led a public-private partnership that acquired six 100% affordable Section 8 communities in Los Angeles County with a total of 407 units. The transaction has a total capitalization of approximately $122 million, including planned renovation costs exceeding $8 million  

The six communities were built between 1969 and 1980. Five are senior affordable housing. 

Standard will extend the communities’ affordability by 20 years under new HUD Housing Assistance Payments contracts. 

The affordable properties in Los Angeles County acquired by Standard include: 

• Oxford Park, a 109-unit senior community 

• Rayen Park, an 84-unit senior community 

• Sherman Arms, a 74-unit senior community 

• Villa Marisol, a 48-unit senior community 

• Columbus Terrace, a 42-unit senior community 

• Villa San Dimas, a 50-unit family community 

Standard Communities partnered in this transaction with the nonprofit Pacific Southwest Development Corporation. The deal was brokered by CBRE’s Southern California Multifamily team of Dean Zander and Stew Weston, along with Tim Flint and James Flinn of the CBRE Affordable Housing Group, on behalf of Los Angeles-based Goldrich Kest.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.