BREA, CA—Construction has begun on a luxury apartment project tobe called Pearl La Floresta, in the LaFloresta planned community in North Orange County.
The five-story development is a joint-venture partnershipbetween Houston-based developer/property managerMorgan and Mesirow Financial,arranged by Mark Erland of HollidayFenoglio Fowler, (HFF). Construction financing is beingprovided by JPMorgan Chase. It is the latestproject devleoped under Morgan's Pearl brand.
Situated on 2.9 acres at the northeastern corner ofImperial Highway and Valencia,Pearl La Floresta is centrally located within the 1,100-homemaster-planned community of La Floresta. The new Pearl will beadjacent to Regency Center's new development,Village at La Floresta, which is anchored by Whole FoodsMarket's first store in North Orange. Separately, Morganis developing a premier mixed-use project with luxury apartmentsabove a Whole Foods Market in Houston's vibrantMidtown neighborhood.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
