H&S Ventures and Waterford Property Co. have acquired Edge Apartments, a 371-unit community in Anaheim, Calif. PGIM sold the asset for $153.6 million.
PGIM acquired Edge as part of a $380 million portfolio deal from JPI in 2021.
The property duo was part of a larger, three-phase project totaling 1,079 units. That third community, dubbed Griffis Platinum Triangle, was recapitalized late last year in a deal including Griffis Residential, MORE Residential and Square Mile Capital.
Edge came online in 2019, featuring studio and one- to three-bedroom layouts that average 867 square feet. The five-story community includes more than 31,000 square feet of indoor and outdoor amenity spaces, such as a rooftop terrace, swimming pool, gym, clubhouse and business center.
Located at 1921 S. Union St., the property is inside Orange County’s Platinum Triangle neighborhood, an 820-acre master-planned district that’s anchored by OCVibe, Angel Stadium, Honda Center and the Anaheim Regional Transportation Intermodal Center. Interstate 5 runs less than 1 mile away.
CBRE Executive Vice Presidents Rachel Parsons and Derrek Ostrzyzek, together with First Vice President Mike Murphy, in addition to Associate Kenji Thomas, represented PGIM in the sale.
