X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

IRVINE, CA-Western National Group, which has been working to expand its multifamily portfolio in Southern California, has added to its holdings with the opening of Ridgeview, a 320-unit, 18-acre luxury apartment complex in Moreno Valley. Kevin Hampton, VP of development for Western National Realty Advisors, says the new complex features units from 795 sf to 1,223 sf in floor plans ranging from one bedroom and one bath to three bedrooms and two baths. Rents range from $1,005 to $1,615.

Located at 25335 Alessandro Blvd., the new project features amenities including a clubhouse with media lounge, a fitness center, a business center, a pool, a spa, barbecue areas, a children’s playground, picnic areas and detached two-car garages. Individual unit amenities include washers and dryers, central air conditioning, high-speed Internet access, walk-in closets and a private patio or balcony.

Ridgeview will be managed by Western National Property Management, the firm’s property management arm, which manages 25,000 multifamily units in California and is the second-largest owner of multifamily housing in Orange County. The newly completed asset is one of a number of Western National apartment development and acquisition projects that have added to the holdings of the Irvine-based firm recently.

Other projects include a 320-unit apartment complex on a 20-acre site that the company has acquired in Wildomar. The company is developing that project via its Fund I, a $50-million private equity fund that it established some time ago to buy and invest in multifamily assets.

In addition Fund I recently acquired a 207-unit complex in La Verne called Monte Vista, adding to holdings that include the 133-unit Monterra apartments in Anaheim, the 116-unit El Dorado complex in Garden Grove, the 194-unit Silver Oak Apartments in Poway and the Boulevard, a 202-unit apartment site that is under development in Northridge. Western National Group is the umbrella over three separate entities: Western National Realty Advisors, which is the firm’s development and acquisition arm; Western National Property Management; and Western National Contractors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.