LOS ANGELES, CA – KTGY Architecture + Plotting has designed The Theo, a new 105-unit multifamily building rising at 289 N. El Molino Avenue in Pasadena, California. KTGY is working with developer Summerhill Apartment Communities, as well as Pasadena Heritage and City of Pasadena Design Commission, on a structure that addresses its historic surroundings.

Walkable to Ancient Pasadena, the building is adjacent to the Theodore Parker Lukens House. Built in 1886-87, the Victorian home is among the oldest in Pasadena. The Theo apartment building is named after this home’s first owner, who was a prominent conservationist and real estate investor. Also adjacent to the project is a small park and 120-year-ancient cedar tree.

These natural and historic components figure into KTGY’s design. The six tales of apartments are set amongst courtyards and terraces with views of the San Gabriel Mountains and the Lukens House.

“Rather than compete with the ornate features of this classic residence, The Theo offers a clean, simple, Modernist counterpart with outdoor spaces that overlook and embrace the Lukens House,” says KTGY Executive Director, Design, Keith McCloskey, LEED AP.

These spaces include an observation room on the southeast corner, directly facing the Lukens House. This covered, naturally-ventilated seating area also features historical information about the house.

The Theo offers additional varieties of outdoor spaces: rooftop amenity space, pool and spa area, cabana terrace, lobby courtyard, outdoor kitchen and dining, dog-wash area, and private terraces. The building steps down in a series of terraces, from six to two levels, to accommodate these different programmed areas.

“Pasadena requires 30 percent of total yucky square footage to be outdoor usable open spaces,” says McCloskey. “We configured these in combinations of active and passive courtyards – each curated to make a unique experience and many to maximize different views.”

The Theo is slated to open in August 2019.

Celebrating 25 years, KTGY Architecture + Plotting is an international award-winning full-service architecture and plotting firm delivering innovation, artistry and attention to detail across multiple offices and studios, ensuring that clients and communities get the best the firm has to offer no matter the building type or location.

Powered by WPeMatico

SUISUN CITY, CA – The Henley Apartment Homes, a 240-unit multifamily property located in Suisun City, CA, was bought for $42,500,000 by Security Properties and New York Life Real Estate Investors, on behalf of its institutional client, in their third joint venture together.

The Henley was built in 1985 and consists of 30 two-tale residential buildings spread over approximately 11 acres. The property is located in Suisun City, a city of approximately 30,000 people that neighbors the larger City of Fairfield in Solano County. The property is minutes from Suisun City’s historic Waterfront District and is walkable to Raley’s supermarket, Starbucks, and a variety of other retail options and eateries.

Fairfield serves as the home of Travis Air Force Base and its state of the art David Grant USAF Medical Center. In addition to the military, the area has a strong industrial presence. With over 13M square feet of industrial inventory, the Greater Fairfield area has the largest industrial footprint in all of Napa and Solano Counties. As such, the city continues to land huge employers. Blue Apron recently signed a lease to open its West Coast packaging and fulfillment hub in Fairfield’s Gateway 80 Business Park, a 10 minute drive from The Henley. Healthcare at Travis Air Force Base, NorthBay Medical Center and Sutter Medical also play a major role in the market. In the face of increasing demand, NorthBay Medical Center is undergoing a $200M expansion to modernize its hospital while expanding its advanced medicine capabilities.

The Henley is another step in Security Properties expansion in Northern California and comes shortly after its acquisition of 244-unit Sycamore Terrace in Sacramento for $57,400,000. The Henley will undergo a moderate interior renovation in an effort to modernize unit finishes.

Beau Madsen, Manager at Security Properties, stated that “this acquisition follows Security Properties efforts to buy properties with renovation potential in supply constrained markets and submarkets. The Henley represents a high-yielding asset at a compelling basis, and is well positioned to undergo a renovation that will increase value for both our investors and Henley residents.”

The property will be managed by Security Properties Residential.

Powered by WPeMatico

LOS ANGELES, CA – Berkshire Group announced the buy of a 177-unit, six-tale mid-rise core property located at 685 New Hampshire in the Koreatown neighborhood of Los Angeles, California. The Property was one of three contiguous buildings originally known as K2LA and has been renamed Berkshire K2LA.

This acquisition represents the third property in Los Angeles bought by Berkshire in recent years along with One Santa Fe in the Arts District and MetLofts in Downtown Los Angeles.

“Los Angeles is one of Berkshire’s top target markets as it meets all of our criteria for sustained growth over the longer term,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “The Koreatown submarket has a walk score of 95 and provides convenient access to jobs, public transit and one of the most vibrant nightlife and entertainment scenes in all of Southern California. We’re excited to bring the Berkshire brand to Koreatown and continue to look for additional opportunities to expand our portfolio across Southern California.”

K2LA’s apartment home makeup consists of studio, one- and two-bedroom floor plans that feature gourmet kitchens with stainless steel appliances and in-unit storage with washer and dryer. The property features a clubhouse with game tables and 80″ flat screen TVs, a rooftop deck, grilling center, pool, spa and fireplaces.

Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group.

Powered by WPeMatico