JPI Secures Financing for Anaheim Apartments
JPI, a developer of Class A multifamily housing, has announced the close of construction financing for Jefferson Stadium Park’s Phase I, consisting of 371 luxury apartment homes and a 1.1-acre public park.
The community is located on a 17.6-acre prime real estate site located in the prestigious Platinum Triangle in Anaheim, California – directly adjacent to Angel Stadium of Anaheim. Jefferson Stadium Park, a three-phase development, will ultimately result in the construction of 1,079 luxury apartment homes including 12 live-work units, the 1.1-acre park, and 14,600 square feet of community-oriented retail space.
“Clearly, JPI is committed to investing in the vision of Anaheim’s Platinum Triangle. We currently have four projects in various stages of development within the Platinum Triangle, with a total anticipated value upon completion of over $675 million,” said Todd Bowden, JPI’s Western Region Senior Vice President and Managing Development Partner. “Platinum Triangle is a model for development efforts that encourage new projects and enhance quality living experiences for the community. Stadium Park only strengthens that commitment.”
The Jefferson Stadium Park constructing financing is provided by East West Bancorp, a publicly owned company with assets over $34 billion. East West Bank is a premier bank focused exclusively on the United States and Greater China markets, and operates over 130 locations worldwide.
By Staff Reports