Tishman Speyer Picks Orange County Community
It's the sixth purchase in the firm's $1.1 billion core plus fund.
Tishman Speyer has acquired Rise, a five-story, 340,000-square-foot, 376-unit, market-rate multifamily community in the Platinum Triangle district of Anaheim, Calif. The firm made the purchase through TS Plus, its core plus fund.
The buyer did not disclose the sales price but noted the acquisition was financed partly through an $88 million Freddie Mac loan.
The seller and most recent owner was PGIM Real Estate, which purchased the property in December 2021 for $194 million from JPI, according to Yardi Matrix data. The acquisition was part of a $380 million portfolio transaction that included the 371-unit Edge Apartments, the same source shows.
The assets, originally known as Jefferson Rise and Jefferson Edge, were part of a three-phase development totaling 1,079 apartment units that began in June 2016 after receiving unanimous approval from the Anaheim City Council. JPI partnered with Grand China Fund, a Beijing-based private real estate fund, to develop the communities. A third property on the campus, REVO, was developed in a joint venture with MORE Residential. Ownership transitioned to the other developer upon completion.
CBRE Executive Vice Presidents Rachel Parsons and Derek Ostrzyzek along with First Vice President Mike Murphy and Senior Associate Kenji Thompson arranged the sale of Rise to the TS Plus fund.
What went up over Anaheim
Located at 1910 S. Union St., Rise is part of an 820-acre master-planned district anchored by Honda Center, Angel Stadium and ARTIC train station. Completed in 2020, the property is currently 95 percent occupied.
Rise has a mix of studios, one-, two- and three-bedroom units ranging in size from 595 to 1,350 square feet, with an average of 904 square feet. Rents range from $2,734 to $3,743, with an average of $2,960, according to Yardi Matrix.
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Interior features at Rise include 10-foot ceilings, hardwood-look flooring, stainless steel appliances, full-size washers and dryers, designer kitchen backsplashes, granite and quartz countertops, walk-in closets and private balconies or patios.
Community amenities include a fitness center, a swimming pool, a spa, barbecue areas and a coworking lounge. A rooftop deck was added in late 2025, featuring a variety of seating options as well as a pickleball court.
The new owner is planning a series of targeted enhancements to the amenities and the property’s exterior. Details were not disclosed.
Situated at the convergence of three major freeways, Rise offers access to major Orange County and Los Angeles employment hub.
Expanding residential purchases, developments
Rise is the sixth acquisition for TS Plus, which has secured nearly $1.1 billion in commitments to date. Last month, Tishman Speyer entered the Charlotte, N.C., market with the purchase of the Berkshire Dilworth, a six-story, 296-unit luxury multifamily property. The asset traded for $76.3 million, according to Mecklenburg County public records.
In January, the company, through the same fund, acquired The Maggie, a 244-unit luxury community in Raleigh, N.C. It was the firm’s first purchase in the metro. The property’s previous owner was TA Realty, according to Yardi Matrix data.
The firm made other purchases through the fund in Chicago and Dallas. The TS Plus portfolio also includes industrial properties in Northern California and Southern Florida.
In the past three years, Tishman Speyer has acquired roughly 3,800 units across 13 residential communities in three countries and 10 states. The New York-based firm has also started or completed development of approximately 4,100 rental apartments during the same period.
