GID JV to Develop in California
GID and Hanover Co. will work together on a multifamily community in Orange County.
Orange County. Image courtesy of MattGush/iStockphoto.com
GID and Hanover Co., have entered a partnership to develop a property in Laguna Niguel, Calif., a city in Orange County. The community, Hanover Laguna Niguel, will be a 309-unit property.
Windsor Communities will manage the Hanover Laguna Niguel.
The asset is set to be a six-story building with community amenities including a pool, fitness center, club room, coworking lounge and screening room.
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Situated next to Interstate 5, residents will be in proximity to wilderness parks and beaches with access to nearby cities such as San Clemente and Irvine. The Metrolink Station is located south of the property. Laguna Niguel is home to dining spots, retail options and coffee shops.
Other developments
As of June 2022, GID’s portfolio comprises $26.5 billion in existing and under-development properties. The company recently acquired two communities in the Atlanta metropolitan area housing a combined 608 apartments. GID also expanded its Seattle footprint this year with the purchase of a 409-unit asset in Kirkland, Wash.
In 2021, Hanover Co. entered the industrial space after largely focusing on the multifamily market.
