Griffin Capital, Legacy Partners Sell Transit-Oriented Apartment Community in Southern California for $100M
MONROVIA, CALIF. — Griffin Capital Co. and Legacy Partners have completed the disposition of Moda at Monrovia Station, a Class A multifamily property located in Monrovia. Opportunity Housing Group as property administrator with the California Statewide Communities Development Authority acquired the asset for $100 million.
Legacy, which will continue to manage the community, developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners.
Sitauted adjacent to the Gold Line at Monrovia Station, Moda features 261 apartments in a mix of one- and two-bedroom layouts; two landscaped courtyards; a pool and spa; barbecue areas; fire pits; and a 4,000-square-foot rooftop terrace.
Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the sellers in the deal.