ANAHEIM, CA—A joint venture between Vivere ResidentialII LLC, a privately held real estate investment companyowned by Moller Investment Group LLC, and itsdevelopment manager, Mack Urban LLC, a West Coastreal estate investment anddevelopment firm, has broken ground on Phase II ofVivere Apartments, a 244-unit luxury apartmentproject in the “Platinum Triangle” here. The project islocated on 3.3 acres at 1331 E. Katella Ave. andwill begin preleasing at the end of 2015, with occupancy beginningas early as Spring 2016.

As GlobeSt.com reported exclusively in December 2012, thefirst phase of Vivere Apartments began preview leasing atthat time. The complex had been acquired fromMacquarie Bank by a partnership betweenUrban Partners LLC and AREA PropertyPartners. Completed in 2011 and fully leased in 2013,Phase I comprises 92 units of luxury condominium-grade flats andloft-style townhomes. Moller acquired both Vivere I and the fullyentitled land for Vivere II from the Mack Urban entity this yearand hired Mack Urban as the development manager to complete PhaseII. Mack Urban was also hired to provide property-managementservices for both Phase I and Phase II through its wholly ownedsubsidiary, Mack Urban Communities.

John Gunn, managing director of Mack Urban, tells GlobeSt.comthat Phase II is a $60-million project. “After a pause, PlatinumTriangle activity is picking up again with several projects inconstruction and numerous planned. The Triangle is extremelywell located within the region and poised for continueddemand.”