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North Ranch Gateway was originally built in 1989 and recently underwent significant renovations, according to the Sterling Organization. The property was purchased on behalf of Sterling Organization's recently launched institutional fund, Sterling Value Add Partners III, LP.
The Boring Co. wants to build a privately funded high-speed tunnel from East L.A. to Dodger Stadium, and, if successful, could be a blueprint for future private-public projects.
Developers are pushing for updates to the city's parking regulations, but even if parking requirements are reduced, developers still have to lease the units in a city still largely dependent on cars.
The properties that will be funded by WNC Corp. 45 are located in: Alaska, Arkansas, Arizona, California, Iowa, Maine, Minnesota, Mississippi, New Jersey, New Mexico, Tennessee and Texas.