Amonte Living, backed by Arselle Investments and Amoroso Companies, acquires Terraces at La Cienega.
Multifamily investors are moving back into the Southern California market, and a newly formed venture is placing an early bet on West Hollywood.
Los Angeles-based Arselle Investments and Amoroso Companies have launched Amonte Living, a partnership focused on acquiring apartment properties across major Western U.S. markets, as reported by Co-Star. The firms said the venture plans to deploy up to $500 million over the next two to three years and has already completed three acquisitions in the Los Angeles area totaling roughly $90 million.
Among those purchases is Terraces at La Cienega, a 48-unit apartment community in West Hollywood acquired for $23 million. The property sits in one of the region’s most supply-constrained rental markets, where limited development sites and steady demand have historically supported long-term value. The venture also acquired Alur, a 51-unit complex in Pasadena, for $22 million, and Sofi Topanga, a 119-unit property in Chatsworth for $44 million.
Company executives said the strategy targets assets that can be purchased below replacement cost in markets with barriers to new construction. West Hollywood, in particular, remains one of the most tightly regulated and built-out cities in Los Angeles County, making new multifamily development challenging.
The launch of Amonte Living comes as apartment valuations across the Western U.S. remain below their recent peaks. According to CoStar research, multifamily values nationally are still about 20% below their highs, while new construction starts have fallen to their lowest levels in more than a decade.
Arselle Investments was formed in early 2025 by industry veterans Greeno and Kevork Zoryan, who previously worked together at Morgan Stanley Real Estate Investing.