Waterford Property, Development Authority Acquire 265-Unit Apartment Building in Anaheim for $127.3M
ANAHEIM, CALIF. — Waterford Property Co., in partnership with California Statewide Community Development Authority (CSCDA), has purchased 1818 Platinum Triangle, a 265-unit multifamily property located at 1818 S. State College Blvd. in Anaheim’s Platinum Triangle. UDR sold the asset for $127.3 million.
Upon taking ownership, Waterford and CSCDA will immediately lower rents for qualified new residents making between 60 percent and 120 percent of the area median income under CSCDA’s middle-income housing program.
Joseph Smolen, Geoff Boler and Lee Redmond of Eastdil Secured represented the buyers in the deal.