MBK, Haseko JV Opens Luxury TOD in Los Angeles
The project was subject to a $72 million construction loan.
A joint venture between Haseko Corp. and MBK Rental Living, a subsidiary of Mitsui & Co., has opened Esperanza at Duarte Station, a 344-unit luxury transit-oriented community in Duarte, Calif. The development was subject to a $72 million construction loan from Principal Financial Group, according to Yardi Matrix data.
R.D. Olson Construction and Architects Orange were also part of the development team, while Greystar serves as property manager. The community represents the first phase of a master-planned project, adopted by the city in 2013. Its second phase, Solana at Duarte Station, is already under construction.
The five-story property broke ground in 2021 and incorporates studio, one-, two- and three-bedroom floorplans, ranging from 514 to 1,090 square feet. Apartments feature in-unit washers and dryers and digital locks, along with private balconies or patios for select layouts. Common-area amenities include a fitness center, clubhouse, playground, rooftop swimming pool and a spa.
Located at 1700 Fasana Road on a 4.3-acre parcel, Esperanza at Duarte Station is close to interstates 605 and 210, and roughly 22 miles from downtown Los Angeles. It is adjacent to the Duarte/City of Hope light rail station, providing car-free access throughout the metro. In the property’s vicinity, there are numerous retail and dining options along I-210. The community is also some 30 miles north of Disneyland, next to which MBK and Haseko recently commenced construction on another luxury project.