City Ventures Lands $100M Ares Investment

SANTA ANA, CA-Locally based developer City Ventures LLC has received a $100 million equity investment from an affiliate of Ares Management LLC to expand its focus on urban infill opportunities in high-density coastal communities. City Ventures will use the additional capital to “continue aggressively identifying, purchasing and developing new-home projects in California’s most desirable supply-constrained areas,” the company said in a prepared statement.

City Ventures CEO Mark Buckland says that the equity investment “will provide land sellers and city redevelopment agencies confidence in City Ventures’ ability to purchase and develop properties without the need for any third-party financing at a time when many home builders are pulling back.” Ares’ investment, along with City Ventures’ existing cash, “will allow us to continue expanding our business in urban California markets,” said City Ventures Chairman Craig Atkins.