LOS ANGELES, CA – Cityview, a vertically-integrated multifamily investment management and development firm, and Stockbridge announced the joint acquisition of South Bay X, a fully entitled development opportunity for sustainable multifamily housing in Gardena, CA. South Bay X will feature 265 units with a combination of studio, one- and two-bedroom apartments ranging from 510 to 1,197 square feet.
Situated in the rapidly transforming South Bay neighborhood, the community attracts a diverse array of professionals drawn to the area by prominent employers including SpaceX, the Tesla Design Center and Ring, directly adjacent to the property.
Major global tech, aerospace, automotive and ecommerce corporations are relocating to this South Bay community, making it a perfect time for Cityview and Stockbridge to do on our shared vision for bringing new jobs and building much needed, quality market-rate workforce housing to this undersupplied market, said Sean Burton, CEO, Cityview. We are both keen to be part of the revitalization efforts taking place in this region and provide increased sustainable living options to our residents.
Cityview and Stockbridge are plotting to achieve LEED Silver certification, designing the Class A property to realize 20-30% improved efficiency over other similar non-green buildings. South Bay X will feature high-performing lighting, enhanced indoor air quality and roofing, and a solar thermal water heating system that relies on renewable energy. The structure will be designed to maximize indoor fresh air and minimize exposure to airborne toxins and pollutants, making it a healthy and more comfortable environment. Tenants will also delight in high-efficiency windows and ultra-efficient low flow water fixtures.
South Bay X will also feature premier interior finishes, a state-of-the-art fitness center, and expansive outdoor amenities including a resort-style pool, spa, lanai, outdoor strength area, BBQs and three separate open-air courtyards with lush landscaping.
We are looking forward to working with Cityview on this development to bring new jobs and much needed housing to this growing neighborhood, said Ross Thompson, vice president, Acquisitions at Stockbridge. Cityview s holistic approach to building, deep knowledge of multifamily development and the surrounding community are what attracted us to this partnership, and we are optimistic about the long-term success and impact the project will have within the South Bay area.
Located at 12850 Crenshaw Boulevard, the transit-oriented development is surrounded by a diverse mix of technology, aerospace and ecommerce employers. South Bay X offers convenient access to Interstate 105, is two blocks from the LA Metro Green Line and less than five miles from Los Angeles International Airport (LAX). Residents will also have simple access to a variety of local attractions including SoFi Stadium, beaches, and retail and dining venues.
South Bay X is anticipated to break ground in the fourth quarter of 2022 with targeted completion in early 2025. The project is expected to make upwards of 1,000 jobs during its development.

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WEST LAFAYETTE, IN – Muinzer, a fully integrated real estate investment firm founded by Marc Muinzer, announced the off-market acquisition of The Quarters near Purdue University in West Lafayette, IN. The 629-bed student housing community is 100% leased and underpinned by 24 acres of land. The asset will be rebranded and renamed Station 21.
The buy, which was bought at a discount to replacement cost, further expands Muinzer’s position as the largest owner of student housing near Purdue University.
“The acquisition of The Quarters is a logical addition to our portfolio. With Purdue’s enrollment approaching 50,000 students, we are looking to buy significantly more apartments in West Lafayette,” said Marc Muinzer, Founder and CEO, Muinzer.
The transaction also marks the continued nationwide expansion of the Muinzer student housing platform.
“We are aiming to double the size of our team while targeting an additional $500 million of acquisitions near rapidly expanding universities in the Huge Ten and SEC,” added Mr. Muinzer.

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JACKSONVILLE, FL – RangeWater plans to break ground in early 2022 on Olea Beach Haven located at 4101 San Pablo Parkway. Plans call for a 175-unit age-restricted community with 1-, 2- and 3-bedroom homes and vibrant community amenities, including a dog park and a social green space.
Our team has been diligent in securing our third development under RangeWater s Olea platform in Florida, said Steven Shores, Chairman and CEO of RangeWater. Olea is centered around community, with the thought that today s empty nesters are more active than preceding generations and are attracted to vibrant, collaborative communities. That is exactly what we intend to deliver here in Jacksonville.
Founded in 2006, privately owned RangeWater buys, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $5.4 billion portfolio.
RangeWater opened its first two Olea properties in Florida in August 2020 and experienced high leasing velocity leading to stabilization within a year. The age-targeted communities are purposefully designed for empty nesters looking to lead an active and social lifestyle in a multifamily environment. Both were successfully transitioned to new ownership late Summer 2021.
We re honored to be entrusted with this location and are excited to bring this project to the Jacksonville community, said Michael Oliver, Director of Development. This intracoastal location is close to the Mayo Clinic, job centers, shopping and the beaches.
Olea has special events and programming unique to each neighborhood. Finishes include high-end appliances, a resort-style pool, a well-stocked library and media rooms. Residents can delight in raised garden beds for community gardening and more social green spaces than most Class A multifamily properties.
Our Olea communities encourage people to be social and convene, Oliver said. At Olea Beach Haven, we will have a full calendar of activities led by our Lifestyle Director that bring life to the community and its many large, well-adorned, indoor and outdoor spaces.

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