AZUSA, CALIF. — A joint venture between Legacy Partners and PGIM has purchased University Village, a student housing property in Azusa, from Azusa Pacific University for $92 million. The community will be rebranded as Citrus Place Apartments and will be available for leasing by the end of September. Built in 1985, the property was previously used as student housing by Azusa Pacific University until the end of spring semester 2025.
Located at 801 E. Alosta Ave., the 14-acre property consists of 20 two-story garden-style residential buildings offering a mix of 320 one- and two-bedroom apartments. Units include washers/dryers, kitchen appliances, dishwashers, central heating, air conditioning and individual hot water heaters. Community amenities include two outdoor swimming pools, a hot tub, a recreational room, two tennis courts, a basketball court and 600 parking spaces.
In addition to the rebranding, Legacy Partners and PGIM plan to create a new leasing office and fitness center and make value-add improvements such as interior renovations, exterior paint and landscaping upgrades.