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Jan. 2, 2013

Anaheim Luxury Apartment Community Opens for Leasing

By Jeffrey Steele, Contributing Writer

Anaheim, Calif.—Vivere Apartments, a 92-unit apartment community in Anaheim, Calif., has opened for preview leasing. The announcement was made by Matthew Burton, chief financial officer of Urban Partners LLC, which in partnership with AREA Property Partners from Macquarie Bank, recently acquired the property.

Urban Partners, a full-service real estate investment, advisory, development and management firm specializing in value-add projects and mixed-use urban infill properties, plans to team with AREA Property Partners to develop the property’s additional 3.3 acres into another 244 units, with construction scheduled to begin in the third quarter of this year.

Vivere Apartments, which features loft, one-bedroom and two-bedroom apartments, was designed for sophisticated and discriminating renters, reports Burton, who also serves as managing principal of Urban Partners.

“They want easy access to shopping, dining and entertainment, close proximity to freeways, a health-club-quality fitness center and the security of controlled access entry,” he says. “Vivere provides a resort setting and everything they desire, and more, for an exciting urban lifestyle.”

As Burton indicates, location is one of Vivere Apartments’ prime selling points. With an address at 1331 East Katella Ave., the community sits in the heart of Orange County’s “Platinum Triangle,” a mixed-use master-planned development encompassing Angel Stadium, Honda Center, The Grove of Anaheim, 18,000 new units of housing and 22.5 million square feet of commercial space.

Noted for its contemporary urban architecture and abundant natural light, Vivere Apartments offers a number of luxury amenities, including an expansive clubhouse with fireplace, game tables and catering kitchen. Residents will also enjoy an inviting outdoor pool and spa, and secure bicycle storage.

“Vivere is a classic example of Urban Partners’ model project,” notes David Walker, managing director of capital markets for Urban Partners.

“We are currently focused on urban infill assets in the five West Coast gateway cities, which continue to grow with an influx of creative young professionals who desire top employment and the most appealing lifestyle opportunities.”

In the last four years, AREA has acquired approximately 25,000 apartment units, and has plans for the development of 10,000 more units in U.S. gateway cities over the next two years. Those plans are in response to changing American demographics and the growing demand for rental housing in urban settings.

Urban Partners, well known for developing transit-oriented, mixed-use projects in larger West Coast cities, was a trailblazer in the revitalization of downtown Los Angeles. Together, the two companies leverage their combined knowledge and expertise to develop and manage sustainable urban infill projects, including high-rise residential, mixed-use multifamily and workforce housing in pedestrian- friendly neighborhoods throughout the Western and Northwest United States.

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