Cityview and Stockbridge have formed a joint venture to acquire Millennium Gardena, a development site in Hawthorne fully entitled for 262 apartment units. The Dinerstein Companies sold the property for an undisclosed price.

The site comes with plans in place to build a sustainable property, targeting a LEED Silver certification. The property will feature a mix of studio, one- and two-bedroom units ranging from 510 to 1,197 square feet alongside amenities including a fitness center, resort-style pool, spa, lanai, outdoor strength area, barbeques and open-air courtyards. The sustainable features include high-performing lighting, enhanced indoor air quality, and a renewable-energy-powered solar thermal water heating system.

The property is located in Hawthorne, which is considered an underserved apartment market with a major local employers like Ring and SpaceX. The area has also seen inward migration from tech, aerospace, automotive and ecommerce corporations, which will serve to drive multifamily demand. The property is near Interstate 105, and just three miles from Interstates 405 and 110, and two blocks from a LA Metro Green Line, making it easily accessible to a wide audience.