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VENTURA COUNTY NEWS
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Urban Partners and Plaza Development Partners Sell Development Lots Within Riverpark Community in Oxnard

4/26/12

Urban Partners LLC and Plaza Development Partners closed a significant sale within the $750 mil master-planned Riverpark community in the city of Oxnard, collecting an exponential return on invested capital from the sale of two fully-entitled lots that will comprise the 224-unit Mosaic Apartments development. The property sold in in an all-cash transaction valued at $10 mil.

Over the past two years, Urban Partners and Plaza Development have designed, entitled and permitted the Mosaic Apartments development, which is situated within walking distance to the 600k sf retail area known as The Collection at RiverPark. The RiverPark community is the largest mixed-use development in Ventura County history and contains a complementary mix of housing, office, retail, schools and parks.

The four-building Mosaic Apartments project will feature studio, one- and two-bedroom apartment units, in addition to a resort-style pool and spa, outdoor lounges with fireplaces, a private clubroom with a gourmet kitchen, and a fitness studio. Construction will commence in the second quarter of 2012 and is scheduled to be completed in Q3 2013.






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