Gelt Buys Long Beach Apartments for $156M

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.