MBK Rental Living has closed escrow on the acquisition of a 5.25-acre site in Anaheim, California, for a 315-unit luxury apartment community. This is the third apartment joint venture between the Irvine-based developer and Haseko Corp., a Japanese-based construction company.
The development, Zia, will be a five-story, wrap-style apartment community with easy access to Interstate 5, a mile west of downtown Anaheim, and a mile north of Disneyland, Orange County’s largest private-sector employer.
Offering upscale living, it will feature studio, one-, two-, and three-bedroom floor plans between 600 and 1,900 square feet. Unit interiors will include quartz countertops, stainless steel appliances, wood-style plank flooring, and large-scale precision windows.
Community amenities, with a focus on residents’ well-being, will include a 4,900-square-foot, two-story fully equipped fitness center with a children’s Wi-Fi area; a pool with a grill and bar area, a spa, and cabanas; a game lounge with duckpin bowling; Zen courtyards; co-working space with podcast rooms; a walking path with outdoor fitness equipment; a basketball court; a dog spa; and a park.
“This well-located, highly amenitized community will bring much-needed quality housing to Orange County, where only 34% of first-time home buyers can afford an entry-level home as of first quarter 2021,” said Craig Jones, president of MBK Rental Living, a division of the U.S. real estate development arm of Mitsui & Co. “We anticipate that Zia will attract a wide range of residents seeking convenient commutes to jobs, with some expected to relocate from Los Angeles, coastal Orange County, and other areas of the L.A. Basin.”
The community is slated to open in late 2023. Zia is designed by AO Architects, with landscape design from Sitescapes. Marc Renard, executive vice chairman of Cushman & Wakefield, represented the parties in the transaction.