Waterford and CSCDA acquire apartment asset in Anaheim Platinum Triangle

Waterford Property Company and California Statewide Community Development Authority (CSCDA) have acquired a 265-unit apartment community in California’s Anaheim Platinum Triangle for $127.26 million.

Located at 1818 S. State College Blvd., the asset is named 1818 Platinum Triangle and brings the number of communities Waterford has converted from market-rate to essential housing to nine, encompassing 2,643 units.

CSDA said it immediately will lower rents for qualified new residents making between 60 percent and 120 percent of the area’s median income, under CSCDA’s middle-income housing program.

“This innovative financing structure immediately serves a public need, plus there will be a rental preference for those who live and work in the city of Anaheim as the city wants this housing to be accessible to first responders and school-district employees, among others,” said Sean Rawson, co-founder of Waterford. “We’ve been approached by a number of scho