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Legacy Partners along Griffin Capital and Silverpeak Real Estate Partners has sold MODA at Monrovia Station for $100 million to Opportunity Housing Group, which is serving as property administrator for California Statewide Communities Development Authority. The property is a 261-unit transit-oriented development in Monrovia.

Legacy Partners signed a ground lease for the project in 2016, and the project delivered in 2018. At the time of the sale, the property was 90% leased, helping to secure a strong sale price that generated an attractive risk-adjusted return for investors, according to Eric Kaplan, president of Griffin Capital Private Equity.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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