MBK Rental Living, a subsidiary of Japanese conglomerate Mitsui & Co., has completed its sale of Esperanza at Duarte Station, a 344-unit transit-oriented multifamily community located in Duarte, Calif. The company didn’t disclose the buyer or the sale price.
Berkadia Senior Managing Director Ryan Fitzpatrick and Managing Director Chelsea Jervis brokered the sale on behalf of MBK. Senior Managing Directors Kevin Mignogna, Charlie Haggard, Vice President Michael Beach, mortgage banker Lee Scott and Assistant Vice President Joey Guarino arranged the acquisition financing on behalf of the buyer.
A joint venture between MBK and Haseko Corp. built Esperanza at Duarte Station in 2022. The development was facilitated by a $72 million construction loan from Principal Financial Group, according to Yardi Matrix information. R.D. Olson Construction and Architects Orange were also part of the development team.
Esperanza at Duarte Station is a five-story building that offers studio, one-, two- and three-bedroom units ranging from 514 to 1,090 square feet. Common-area amenities include a cantina with a lounge and counter seating, with direct access to food trucks and the property’s “Casa de Perro,” which features an interior pet wash and dry station as well as an exterior dog park with seating.
Other amenities include a resort-style pool and spa, and an indoor/outdoor space with a living room lounge, a fireplace, an open dining roo and kitchen. The community’s landscaped roof deck has poolside cabanas, outdoor TVs, grilling stations, a fire pit and a lounge area. Its rooftop gym has free weights, cardio equipment and an outdoor yoga area.