Urban Story Ventures, the Chattanooga-based real estate development group, has sold a former Macy s site at a Daytona Beach mall where a company plans to put multifamily housing, according to a news release.
Opportunity Housing Group Buys California Property for $100M
Institutional Property Advisors represented the sellers in the disposition of the 261-unit community in Monrovia, Calif. Apr262021
Image courtesy of Griffin Capital Co.
MODA at Monrovia Station, a transit-oriented apartment community in Monrovia, Calif., has changed hands. Opportunity Housing Group purchased the 2019-built, 261-unit property for $100 million from a partnership between Griffin Capital Co. LLC and Legacy Partners.
Opportunity Housing Group serves as a property administrator for the California Statewide Communities Development Authority (CSDDA). Legacy Partners, which developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners, will continue to manage the community once the sale closes.