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ORANGE COUNTY NEWS
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Waterford Property Company and California Statewide Communities Development Authority Buy 400-Unit Res Community in Anaheim

3/01/21

Waterford Property Company, in partnership with the California Statewide Communities Development Authority (CSCDA), has acquired Jefferson Platinum Triangle, a transit-oriented, 400-unit apartment community located in the Platinum Triangle District of Anaheim to convert to workforce housing. The community was sold by JPI for $160 mil, or $400k per unit.

The acquisition is part of a workforce housing finance program created in 2020 by CSCDA. Using tax exempt bond financing, CSCDA can acquire multifamily projects without the use of public subsidies to provide much needed housing for the middle-income workforce demographic. With this acquisition the partnership will be able to lower rents for qualified existing and new residents making between 80% and 120% of the area median income in order to help create more workforce housing in the city of Anaheim.

Jefferson Platinum Triangle is located at 1781 S. Campton Ave in Anaheim. The community, built in 2018, features amenities and recreation facilities such as clubrooms, two resort-style pools with jacuzzi tubs, outdoor cooking areas, fitness centers, yoga studio and more.

“We are building on our investment in Anaheim and increasing our opportunity to provide housing for essential workers. We look forward to rolling this program out as new tenants can experience rental rate savings immediately which we believe in this current economic environment is a valuable tool to help address the ongoing housing issues in California,” said Sean Rawson, co-founder, Waterford Property Company.

For Waterford, this deal follows the firm’s recent acquisition in partnership with CSCDA of Parallel Apartments in Anaheim.






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