Waterford Acquires $160M TOD Asset in Anaheim
Waterford Property Company in partnership with the California Statewide Communities Development Authority (CSCDA) recently acquired Jefferson Platinum Triangle, a transit-oriented 400-unit apartment community located in the Platinum Triangle District of Anaheim. Waterford, as property administrator with CSCDA, acquired the community for $160 million from original developer JPI.
The acquisition is part of a workforce housing finance program created in 2020 by CSCDA. Using tax-exempt bond financing, CSCDA can acquire multifamily projects without the use of public subsidies to provide much-needed housing for the middle-income workforce demographic.
“We are building on our investment in Anaheim and increasing our opportunity to provide housing for essential workers. We look forward to rolling this program out as new tenants can experience rental rate savings immediately which we believe in this current economic environment is a valuable tool to help address the ongoing housing issues in California,” said Sean Rawson, co-founder, Waterford Property Company.
Jefferson Platinum Triangle is located at 1781 S. Campton Ave. in Anaheim.
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