Legacy Partners Closes Ground Lease on 2.81-Acre Parcel Adjacent to Monrovia Station

MODA at Monrovia Station will yield 261 residences

LOS ANGELES (April 25, 2016)— Legacy Partners, a privately owned national real estate firm, in partnership with Griffin Capital and Silverpeak Real Estate Partners, announced today closing of the ground lease on a 2.81-acre parcel in Monrovia, adjacent to the recently opened Monrovia Station. The plan for MODA at Monrovia Station includes 261 apartment residences less than one mile from Old Town Monrovia.

“We see a great opportunity to participate in the transit-oriented renaissance taking place in Monrovia,” said Timothy J. O’Brien, Senior Managing Director of Legacy Partners. “With the new Gold Line station opened in March, and the heart of the community located a short walk away in Old Town Monrovia, we envision residents enjoying easy access to both the local hometown community here in Monrovia, as well as the benefits of nearby transportation to the greater Los Angeles area.”

With an expected completion of early 2018, MODA at Monrovia Station will provide residents state-of-the-art appliances and finishes, as well as a clubhouse, fitness center and game room. Residents will enjoy several outdoor living spaces: two landscaped courtyards, kitchens, barbeque areas, fire pits and a 4,000-square-foot rooftop terrace.

The city of Monrovia is planning a transit-oriented district in the area surrounding Monrovia Station, an extension of Los Angeles County light rail metro system.

Other Legacy projects that have recently broken ground are 580 Anton in Costa Mesa, CA and Legacy on Speer in Denver, CO. Legacy is also currently renovating Mariners Bay in Marina del Rey.

About Legacy Partners
Legacy Partners, a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay area, owns, develops and manages multifamily communities throughout the United States. We have regional offices in California, Colorado, Texas, and Washington and have developed more than 65,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas and Washington. Since our inception, we have worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results.

In addition to development, Legacy Partners provides management services for our own portfolio, as well as other owners. Combined, we manage a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion. For further information, please visit legacypartners.com

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