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MBK Rental Living has completed the disposition of Esperanza at Duarte Station, a 344-unit Class A apartment community in Duarte, selling the property to an undisclosed buyer. The transit-oriented asset is described as a new Class A multifamily community located near a Metro station, positioning it to serve residents seeking convenient transportation access.
Esperanza at Duarte Station was developed as a joint venture between MBK Rental Living and Haseko Corporation. The community opened in November 2022, adding a sizable, modern multifamily property to the local rental housing stock. The joint venture partners brought the project from development through lease-up to an eventual sale in just a few years.
According to MBK Rental Living president Ken McCarren, Esperanza at Duarte Station benefits from its proximity to both the nearby Metro station and the world-renowned City of Hope. He noted that this location dynamic enhances the property’s appeal for residents who prioritize connectivity, access to employment and services, and overall convenience.
McCarren also indicated that MBK Rental Living is observing similar strength in renter demand at Solana at Duarte Station, another community the firm is leasing nearby. That performance is cited as reinforcing the long-term attractiveness of the surrounding market for transit-oriented multifamily housing.
The sale of Esperanza at Duarte Station was brokered by a Berkadia team consisting of Ryan Fitzpatrick, Chelsea Jervis and CJ Angle. Their role was to handle the transaction between MBK Rental Living and the undisclosed buyer. Specific terms of the sale, including pricing and cap rate, were not disclosed.
On the financing side, acquisition financing for the buyer was provided by another Berkadia team that included Kevin Mignogna, Charlie Haggard, Michael Beach, Lee Scott and Joey Guarino. While the financing structure and lender details were not released, the involvement of a dedicated capital markets team underscores the importance of debt execution alongside the sale process.
MBK Rental Living continues to be active in the immediate area through its leasing efforts at Solana at Duarte Station. With Esperanza at Duarte Station sold and the nearby Solana community in lease-up, the firm remains engaged in the market, particularly around transit-served locations that appeal to renters focused on accessibility and ease of movement.
The post MBK Rental Living Sells Esperanza at Duarte Station, a 344-Unit Class A Community appeared first on CRE Market Beat.
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