Trion Properties has acquired a double-lot parcel in the Pico-Robertson neighborhood of Los Angeles for the development of a 29-unit luxury multifamily property. This will be Trion’s fourth development in the Los Angeles area.
While the firm also specializes in value-add multifamily opportunities in other markets such as the Bay Area, Denver and Portland, Ore., the team is bullish on developing multifamily properties in Los Angeles owing to the region’s housing shortage and increasing demand for new, quality multifamily supply, according to David Moghavem, director of acquisitions at Trion Properties.
“Los Angeles is an area that we know extremely well, and focusing on ground-up developments in this region offers an opportunity for us to be a part of the solution during this housing crisis,” said Moghavem. “For this development, our team is utilizing incentives provided by the city’s Transit-Oriented Communities program, which allows us to offer much-needed
