MORGAN, a leader in upscale multifamily development, construction and property management, has opened and started leasing Pearl La Floresta in Orange County, California. The five-story midrise, MORGAN’s latest luxury apartment community in its portfolio and the first in Orange County to carry the Pearl brand, is a joint venture between MORGAN and Mesirow Financial.
Centrally located within the 1,100-home master-planned community of La Floresta in Brea, Pearl La Floresta is adjacent to the newly constructed Village at La Floresta, which contains 87,000 square feet of retail, including a Whole Foods Market, numerous restaurants and lifestyle tenants.
The new Pearl contains 204 apartments featuring custom high-end finishes in one-, two- and three-bedroom units, as well as a few live-work units. Upscale amenities include an oversized fitness center with a separate workout room offering Fitness on Demand, a rooftop sky lounge, a 24-hour cyber café, a resort-style swimming pool, barbecue grills, multiple dog wash stations, and 24/7 package lockers for convenient package pickup.
“We are thrilled to be opening Pearl La Floresta,” said Development Senior Vice President Philip Morgan. “This boutique community offers many amenities and was designed to cater to the wants and needs of our discerning residents. Units have direct pedestrian access to the new Village at La Floresta retail center, and the property offers spectacular views of the San Bernardino Mountains.”
“The tremendous location, impressive amenities, and unparalleled access to nearby shopping and recreation are the perfect combination for residents of La Floresta,” said Alasdair Cripps, Chief Executive Officer and Co-Chief Investment Officer of Mesirow Financial’s Direct Real Estate business. “We’re excited to team up with MORGAN on this latest addition to the Pearl portfolio.”
MORGAN is a privately held national developer and manager of Class A multifamily properties. With headquarters in Houston, TX, MORGAN specializes in upscale urban construction and third-party property management across the United States. Since 1988, MORGAN has developed over 18,000 units at a cost of $2.3 billion, with a $500 million project pipeline currently in development or under construction.
About Mesirow Financial
Headquartered in Chicago, Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, Mesirow Financial is committed to helping institutional, corporate and individual clients achieve their objectives. Its Direct Real Estate business incorporates a diversified value-added real estate strategy with an emphasis on the U.S. multifamily sector. Over the last five years, the team has raised approximately $1.5 billion in equity and has invested in nearly 13,000 units in 22 cities nationwide.