NorthMarq arranges $160 million sale of Jefferson Platinum Triangle in Anaheim, California

Waterford, CSCDA plan to convert the property to much-needed affordable housing in Southern California

NEWPORT BEACH, CALIFORNIA (March 2, 2021) – NorthMarq’s Shane Shafer, managing director – Newport Beach, and Kyle Pinkalla, managing director – San Diego, completed the $160,000,000 million sale of Jefferson Platinum Triangle in Anaheim, California. NorthMarq represented JPI, who sold the property to a joint venture between Waterford Property Company and the California Statewide Communities Development Authority (CSCDA). The apartment complex, located at 1781 South Campton Avenue in Anaheim, California, contains 400 units. The buyers will convert the property, financed by tax-exempt municipal bonds, into much-needed affordable housing.

"We plan on doing projects throughout the state with CDSCA," Waterford Property co-founder Sean Rawson said. "In this economic environment it's a valuable tool to help address the ongoing housing issues in California. We're increasing our opportunity to provide housing for essential workers and building on our investment in Anaheim."

The four-story property was constructed in 2016. Community amenities include two resort-style pools, two clubhouses, two fitness centers, yoga/spin studio, chef-style kitchen and coffee bar, dining room, media screening room, game room, rooftop lounge, outdoor kitchens and grilling areas, outdoor fire features, controlled access gates, garage parking, pet wash stations, 24-hour access package delivery areas and Wi-Fi. 

“Jefferson Platinum Triangle was an outstanding opportunity to satisfy two priorities: the investments goals of the seller and add crucial affordable housing in Southern California,” said Shafer. “This is one of nicest properties built in Anaheim in last five years. The buyer recognized the quality of construction and the exceptional location of the asset. This is a special sale as it is one of the largest in Orange County this year. We are proud to have represented the principals in this transaction, demonstrating the market expertise and value of representation that exceed our client’s expectations.”

According to NorthMarq’s Q4 market report, multifamily sales activity was minimal throughout the first nine months of 2020, but transactions picked up significantly in the fourth quarter. The spike in transactions at the end of the year brought sales activity in 2020 to very closely resemble investment trends from 2019, highlighting the stability of investor demand for rental properties in Orange County.