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Griffin Capital and Legacy Partners Announce Sale of 261-Unit MODA at Monrovia Station Transit-Oriented Community for $100 Million

EL SEGUNDO, CA - Griffin Capital Company, a leading privately-held alternative asset manager, and Legacy Partners, a privately-owned national multifamily development and management firm, announced the sale of MODA at Monrovia Station (“MODA”), a 261-unit, Class A multifamily community located in Monrovia, California. The property was purchased for $100 million by Opportunity Housing Group as a property administrator for the California Statewide Communities Development Authority (CSCDA). Legacy Partners developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners. Legacy will continue to manage the community following the sale closing. “This successful disposition confirms our strategy of developing in-fill Class A apartment communities proximate to major employers with easy access to public transit,” said Eric Kaplan, President of Griffin Capital Private Equity. “The property was over 90 percent leased at the time of sale, a

Griffin Capital and Legacy Partners Sell 261-Unit Transit-Oriented Multifamily Community MODA at Monrovia Station for $100 Million

Press release content from Business Wire. The AP news staff was not involved in its creation. Griffin Capital and Legacy Partners Sell 261-Unit Transit-Oriented Multifamily Community ‘MODA at Monrovia Station’ for $100 Million April 22, 2021 GMT MODA at Monrovia Station, Monrovia, California (Photo: Business Wire) EL SEGUNDO, Calif. (BUSINESS WIRE) Apr 22, 2021 Griffin Capital Company, LLC (“Griffin Capital”), a leading privately-held alternative asset manager, and Legacy Partners (“Legacy”), a privately-owned national multifamily development and management firm, announced today the sale of MODA at Monrovia Station (“MODA”), a 261-unit, Class A multifamily community located in Monrovia, California. The property was purchased for $100 million by Opportunity Housing Group as a property administrator for the California Statewide Communities Development Authority (CSCDA). Legacy Partners developed the property in a financial partnership with Griffin Capital and Silv

Coast Village Association Touts Benefits of Improvement District Plans to Transform Montecito Street

Coast Village Association Touts Benefits of Improvement District Plans to Transform Montecito Street Feeling besieged on all sides, Coast Village Road merchants mobilize to convince Santa Barbara City Council to green light self-imposed funding program Bob Ludwick, president of the Coast Village Association, is working with property owners and businesses to create a benefit assessment district to fund long-sought improvements on Montecito’s Coast Village Road. “If we all contribute something, we can do significant things here,” he says. (Joshua Molina / Noozhawk photo) By Joshua Molina, Noozhawk Staff Writer | @JECMolina February 28, 2021 | 4:55 p.m. When the Coast Village Association goes before the Santa Barbara City Council on Tuesday, the Montecito advocacy organization will be looking to pull off something monumental.

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