March 17, 2020
West Hollywood, CA-based multifamily investor Trion Properties has completed its first ground-up development project with a 28-unit multifamily community in Culver City, CA.
The project, located at 5012 S. Slauson Ave, represents Trion’s expansion from value-add multifamily renovations into ground-up development and, according to its announcement, is the first property the firm has taken from unentitled to developed and stabilized. The growth of Culver City into a tech hub, with Sony, NFL Network, Apple, and Amazon Studios nearby, is expected to attract more younger workers to the area, which compelled the company to take on the new development to meet market demand.
According to Trion’s David Moghavem, “While Trion’s core strength has been upgrading undervalued multifamily properties in up-and-coming neighborhoods, this project presented us with the opportunity to fill a significant void in the neighborhood by developing a brand-new Class-A community from the ground up.”
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