RevereCRE

Volta on Pine

635 Pine Ave, Long Beach, CA 90802, United States

Volta on Pine

271-Unit Core Multifamily Investment Opportunity in Downtown Long Beach

Access Data Room

Revere is an invite-only digital network for commercial real estate professionals looking to buy or sell a building, finance a project, and expand their network.

Connect with 500+ development firms today

Blake A. Rogers is a Managing Director based in Walker & Dunlop’s Los Angeles office. Mr. Rogers is responsible for originating and executing on multifamily investment sales throughout Southern California. He serves on the Walker & Dunlop Investment Sales Executive Committee, which provides strategic direction to best serve the firm’s clients. Mr. Rogers has executed ~$3 billion worth of multifamily properties for institutional and private capital clients and brings more than ten years of experience in commercial real estate advisory services to Walker & Dunlop. Mr. Rogers is a member of the Urban Land Institute (ULI) and serves as a sustaining board member of the UCLA Ziman Center for Real Estate.

Founded in 2001, Holland Partner Group ("HPG") is a recognized leader in the development of high-quality investment properties in the Western United States. Led by talented professionals seasoned in all phases of the development and construction of mixed-use properties, including residential, office, parking garages, and retail assets, we endeavor to create residential and commercial projects that meet the highest standards in terms of quality, value creation, and innovation. Our goal is to create sustainable, socially connected places where people work, live, and enjoy life. We create communities that inspire each person to become their best self.

 

HPG works with world-class lifestyle experience designers, architects, interior designers, sustainable consultants, landscape artists, and technologists to conceive exceptional new residential communities and transform existing properties to speak to the most discerning tastes and emotional needs. We work to create unique, vibrant, and engaging communities that help create lasting bonds between our residents, their neighbors, and the properties they live in.

 

HPG is a fully-integrated real estate investment company, with over 750 team members and a $10 billion multifamily portfolio in some of the West Coast's most sought after markets including Denver, Los Angeles, Portland, San Diego, San Francisco, and Seattle.

Investment Highlights
Square Feet
849 Sq. Ft.
# Units
271 Units
Year Built
2021
Parking Spaces
341 Spaces
Parking Ratio
1.25%
Property Type
Multifamily
Deal Type
Acquisition
Risk Profile
Core

PROPERTY DESCRIPTION

Walker & Dunlop has been hired on an exclusive basis to sell Volta on Pine, a newly constructed, fully amenitized, luxury boutique apartment building located in the heart of thriving Downtown Long Beach. Delivered through a joint venture by Holland Partner Group and North America Sekisui House, LLC in February of 2021, the Property has, and will continue to make, remarkable leasing progress, signing an average of 20 leases per month since May 2021.

 

Gross rents in July 2021 are ±12% above average in-place rents. The positive leasing momentum is largely a testament to NASH-Holland JV’s thoughtful and elegant property design and home finishes, attracting an affluent tenant base with an average household income of ±$189K per year.

 

INVESTMENT HIGHLIGHTS

Limited Future Competing Supply

Only 249 units expected to deliver annually the next two years and nothing thereafter

 

Material Rent Growth Upside

Volta on Pine affords renters a 21% aggregate discount to nearby coastal beach markets providing investors with a lofty runway of rental growth

 

Proximate To Major Employment Hubs

Easy access to over ±950,000 jobs in Long Beach and nearby employment hubs of Silicon Beach, the South Bay, Downtown LA, and Irvine

 

Exceptional Renter Demographics

85% of residents are under 45, with average HH income of ±$189K, and employed by notable firms including SpaceX, Axiom, Northrup Grumman, Qualcomm, Amazon, and Blizzard Entertainment

 

Vibrant & Amenitized Location

Boasting a “Walker’s Paradise” Walk Score of 97, Volta on Pine is just a 10-minute walk from renowned eateries such as Ammatoli Mediterranean Bites, The Ordinarie, Portuguese Bend, Lupes Del Mar, Michael’s, Beachwood Brewery, and more

 

Exceptional Accessibility

The Property sits directly in the middle of the several Metro Blue Line stops in Downtown Long Beach and is surrounded by thoroughfares such as PCH, the 405, and 710

FilesUpdatedDownload
Holland Partner Group - Volta On Pine Flyer.pdf08/28/2021 04:30pm