Investment Overview

In June 2022, CGI+ completed entitlements on a site located in the center of Los Angeles’ dynamic South Bay. Just one block to the north lies the Harbor-UCLA Medical Center which is currently undergoing a $1.64B modernization plan expected to be complete by mid-2027. The Harbor UCLA renovation plan will include a new inpatient tower, outpatient tower, new parking structure, and a central infrastructure plant. This redevelopment is expected to grow employment by 40% in the area. In addition, the county has approved a 15-acre bioscience park on the campus which will lead to further job creation.

The mixed-use project is entitled for approximately 525 apartment units in a 6-story wrap building. The parking structure will host a sky deck on the roof level which will feature a pool, fitness center, and lounge areas for guests. From the roof, tenants and guests will be able to enjoy expansive views of Los Angeles County with the Pacific Ocean to the west and the San Gabriel Mountains to the east.

The project will feature a resort-like feel, providing privately themed courtyards and luxury amenity spaces for residents and guests. The project is scheduled to break ground in Q1 2023 with completion anticipated in 2025.

Transaction Details

Property Address: 22107 Vermont Avenue, Torrance, CA
Acquisition Date: 2022
Investment Type: Residential Development
Asset Type: Luxury Multi-family
Size: 525 Units