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A joint venture between Holland Partner Group and NASH has sold Volta on Pine in Long Beach to Gelt for $156 million. The 271-unit apartment complex has 1,300 square feet of ground floor retail space and is located in Downtown Long Beach. To complete the sale, Gelt secured $91.3 million in financing.

The property is located in Space Beach, an area of Downtown Long Beach that has recently become a hub for aerospace companies with start-ups like SpinLaunch, Rocket Lab and Relativity Space, all of which have their headquarters offices in the market. The wider area has even greater access to employment hubs with an estimated 950,000 jobs in the Greater Los Angeles and Orange County markets.

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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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