The San Diego regional office of investment and development firm JPI announced that it is partnering with Grand China Fund of Beijing in a $255 million joint venture to develop 747 luxury apartments in Anaheim.
A company statement said this is the second project for JPI’s western regional office in Anaheim’s Platinum Triangle area, near Angels Stadium. Currently under construction in the same area is JPI’s 400-unit luxury apartment community, scheduled for occupancy in late November 2016.
Grand China Fund is a private equity real estate fund. The Anaheim project also includes a new 1.1-acre city park, within the master-planned Jefferson Stadium Park development.
JPI’s San Diego office in Carmel Valley has developed and acquired 41 luxury apartment communities throughout California and Arizona, totaling more than 13,400 units at an investment of more than $2 billion.
The multifamily-focused JPI was founded 30 years ago and has its corporate headquarters in Irving, Texas, with other regional offices in Arizona and New York.