Morgan Brings 204 Luxury Apartments to Orange County
- Jan 26, 2016
Brea, Calif.—The Morgan Group, a Houston-based real estate development company, started working on its latest luxury multifamily project in Orange County, Calif.
The result of a collaboration between Morgan and Mesirow Financial, arranged by Mark Erland of HFF, Pearl La Floresta is a five-story, 204-unit luxury apartment community located in Brea, Calif. Construction financing for the Architects Orange-designed development was provided by JPMorgan Chase.
Situated on a 2.9-acre site at the northeastern corner of Imperial Highway and Valencia, Pearl La Floresta is adjacent to Regency Centers’ Village at La Floresta retail development, and anchored by Whole Foods Market’s first Orange County location. The community also sits within the 1,100-home master-planned community of La Floresta.
Morgan’s latest project in The Golden State will incorporate 204 one- and two-bedroom upscale apartment units each averaging 882 square feet. Amenities will include high-end finishes, a state-of-the-art fitness facility, dog wash stations, a resort-style pool, 24-hour Cyber Café and a sky deck.
“Pearl La Floresta will be MORGAN’s first multifamily property in Orange County built to our exacting Pearl standards,” Executive Vice President Carter Bechtol said in a statement. “The combination of the project’s quality, nearby employment and retail in a desirable master-planned community will enable the property to attract strong leasing demand, especially given the lack of new multifamily housing in the area.”
Morgan is also currently working on a premier mixed-use project featuring luxury apartments above a Whole Foods Market in Houston’s Midtown area.