Zia, slated to pre-lease in late 2023, will bring much-needed housing to Orange County
Irvine, Calif. (January 25, 2022) – MBK Rental Living announced that it has closed escrow on the purchase of 5.25 acres in Anaheim for the development of Zia, a four-story wrap-style apartment community located in central Orange County. MBK is proud to partner with Haseko Corporation (Haseko) in its third apartment joint venture with the company. Offering upscale living with easy access to downtown Anaheim, Interstate 5 and Disneyland, the MBK Rental Living community will include 315 apartments offering studio, one-, two- and three-bedroom floor plans, ranging from approximately 600 to 1,900 square feet.
Located at 1600 W. Lincoln in Anaheim, Zia will feature luxury interior finishes and sustainable elements including quartz countertops, stainless-steel appliances, distinctive wood-style plank flooring and large-scale precision windows. Thoughtfully designed with purpose and a focus on residents’ well-being, the community will feature amenities such as a 4,900-square-foot two-story fully equipped fitness center with children’s wi-fi area; pool with grill and bar area, spa, and cabanas; entertainment and Zen courtyards; game lounge with duckpin bowling, a fun variation on the standard ten-pin bowling game; co-working office space with podcast rooms; walking path with outdoor fitness equipment; basketball court; dog spa; and a park.
“This well-located, highly amenitized community will bring much-needed quality housing to Orange County where only 34 percent of first-time home buyers can afford an entry-level home as of first quarter 20211,” said Craig Jones, President of MBK Rental Living. “We anticipate that Zia will attract a wide range of residents seeking convenient commutes to jobs, with some expected to relocate from Los Angeles, coastal Orange County, and other areas of the LA Basin.”
The new community will offer residents the opportunity to “live full circle” with immediate access and visibility to Interstate 5 and is located only a mile west of downtown Anaheim and a mile north of Disneyland, Orange County’s largest private-sector employer. Residents will easily connect to daily needs and the area’s many dining, entertainment, and cultural destinations, including Anaheim’s Packing District; John Wayne Airport; UCI Medical Center; California State University, Fullerton; and the University of California at Irvine, the county’s second largest employer.
“Zia is designed to balance urban energy and the comforts of home: A+ access to all of Orange County’s entertainment, dining and retail offerings, but also a residential sanctuary with resort-style offerings that elevate the relaxed, social and self-improvement aspects of a special Southern California lifestyle,” Jones added.
Zia will make a difference with the local community by providing a place of belonging for its residents and support for the community full circle. The grand opening of the community is anticipated for late 2023. Zia is designed by AO Architects and landscape is designed by Sitescapes. Marc Renard, Executive Vice Chairman of Cushman & Wakefield, represented the parties in the transaction.
About MBK Rental Living
MBK Rental Living is active in the acquisition and development of apartment communities. The company’s mission is to be the preeminent lifestyle developer focusing on creating communities that deliver value for their residents, partners, and investors. Throughout its more than 30-year history, MBK has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship, all at an excellent value. MBK Rental Living is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., a global trading and investment company with a diversified business portfolio. MBK Real Estate’s companies span a wide spectrum of real estate development including apartments, industrial, and their senior housing divisions. MBK Rental Living is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1700, Irvine, CA 92614; or visit their website at www.MBKRentalLiving.com.
About Mitsui & Co., Ltd.
Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has over 5,600 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio. For more information on Mitsui & Co’s businesses visit, www.mitsui.com.
About Haseko Corporation
Haseko Corporation, established in 1937, is a Japanese-based construction company mainly specializing in the development of residential condominiums. The company has built approximately 680,000 condominium units throughout Japan since 1968, equivalent to roughly 10% of Japan’s condominium stock.
Haseko America, Inc., a wholly-owned subsidiary of Haseko Corporation, has been developing residential, commercial, and resort properties in Hawaii since 1973, including luxury resorts, residential communities, commercial properties, and upscale condominiums on Oahu, Maui, Kauai, and the Big Island. To date, the company has sold 4,000 single-family homes in Hawaii.
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1 Source: 2021-2022 Orange County Community Indicators Report
