(Save the date: RealShare Apartments comes to theWestin Bonaventure, Los Angeles, October24.)

SANTA MONICA, CA-A joint venture between Century WestPartners and Cigna has broken ground onthe first phase of the Gibson at 7^th &Arizona, a two-building, 106-unit upscaleapartment development here. Theproject, set for completion in late Summer 2013, will be the jointventure’s first apartment development in the Santa Monica marketand its third development in the Los Angeles area. Projectedconstruction costs were not revealed to GlobeSt.com.

As GlobeSt.com previously reported, Century West Partners wasformed last year and is headed by veteran residential developersMichael Sorochinsky of Cypress EquityInvestments and Randy and Steve Fifieldof Fifield Cos. “Bringing the Century West brandto the Santa Monica market is an exciting opportunity for us,” saidSorochinsky in a prepared statement. “This is a highly desirablelocation that will offer residents immediate access to some of thebest cultural and retail destinations the LosAngeles area has to offer.”