Property | Worldwide Property Administration Group Acquires Native Residence Neighborhood

Harbor Group Worldwide, LLC and Azure Companions, LLC  introduced earlier this month, their three way partnership for the acquisition of Jefferson Vista Canyon, a 480-unit, Class A condo neighborhood in Santa Clarita.

HGI and Azure acquired the property from JPI. JLL brokered the transaction and organized a $173 million floating price mortgage on behalf of HGI and Azure.

The Jefferson Vista Canyon Residences are a part of a 185-acre, mixed-use master-planned growth, designed to supply residents handy and walkable entry to employment, recreation and leisure choices. At completion, the event will function 650,000 sq. ft of workplace house and 165,000 sq. ft of retail, and can embrace an 11-acre park and direct entry to 10-miles of mountain climbing and strolling trails.

Town of Santa Clarita will assemble a bridge throughout the Santa Clara River connecting the event with Soledad Canyon rd., offering an important entry level to enhance the anticipated improve in resident and customer density to the micro-location.

The neighborhood is centrally positioned and connects residents to main employment and life-style nodes throughout the Santa Clarita Valley, the neighboring San Fernando Valley and all through Larger Los Angeles through Route 14 and I-5.

The property presents an embedded Metrolink commuter rail and bus switch station, which is able to present residents further modes of entry to main employment and leisure facilities in Larger Los Angeles. The Santa Clarita area is proximate to a spread of employers inside aerospace and protection, medical gadgets and biotech, superior manufacturing, digital media and leisure and data know-how.

“The Jefferson Vista Canyon neighborhood supplies the accessibility, comfort and connectivity right this moment’s residents are in search of,” mentioned Richard Litton, President, HGI. “This acquisition highlights HGI’s funding technique of buying properties in well-located, dynamic markets with sturdy employment fundamentals. We stay up for increasing our footprint in Southern California.”

Bryant Ferber, Azure’s Managing Director and Head of Acquisitions added, “We’re excited to announce our first acquisition in California, and anticipate this transaction to function a springboard to extra alternatives within the western United States as we search to increase our presence within the area. Jefferson Vista Canyon aligns completely with our core funding technique to amass best-in-class belongings in submarkets with sturdy development trajectories.”

The JLL Capital Markets staff representing the vendor was led by Managing Director Peter Yorck and Director Nick Lavin. The JLL Capital Markets Debt Advisory staff representing the debtors was led by Managing Administrators Brandon Smith, Annie Rice and Jamie Leachman.

“This luxurious asset had an amazing lease up over the previous twelve months and can quickly attain stabilization, demonstrating sturdy renter demand for this product and site,” mentioned Yorck. “The sale of Jefferson Vista Canyon signifies continued strong investor curiosity in additional suburban pockets of Los Angeles County, akin to Santa Clarita.”

Inbuilt two phases from 2020 to 2021, Jefferson Vista Canyon options modern finishes and fascinating facilities distinctive to different communities within the space, together with resort-style swimming pools and a rooftop deck. Inside models embrace a mixture of studio, one-, two- and three-bedroom layouts.

Jefferson Vista Canyon provides to HGI’s Southern California multifamily portfolio and marks the agency’s seventh multifamily funding within the area.

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