TA Realty Acquires Anaheim Multifamily Complex From MBK for $147.5M

MBK Rental Living and joint venture partner Haseko Corp. have completed the sale of Zia, a 315-unit multifamily community located in Anaheim, California. Boston-based TA Realty acquired the five-story asset for $147.5 million, which translates to roughly $468,000 per unit.

Completed in September 2024 at 1600 W. Lincoln Ave., the property features studios alongside one-, two-, and three-bedroom floor plans spanning from 600 to 1,900 square feet. Cushman & Wakefield represented MBK in the disposition.

The transaction commands a significant premium over regional benchmarks. According to Northmarq data, Orange County multifamily vacancy held steady at 4.6% in the second quarter of 2026, with year-to-date median pricing at approximately $326,000 per door. The trade adds to a wave of major institutional investment in the submarket, following Tishman Speyer's recent acquisition of the nearby 380-unit Rise complex.

For multifamily sponsors and capital providers, the sale illustrates strong institutional appetite and premium pricing power for newly delivered, core residential assets in supply-constrained Orange County infill locations.