H&S Ventures and Waterford Property Company Acquire 371-Unit Edge Apartments in Anaheim's Platinum Triangle

H&S Ventures, in partnership with Waterford Property Company, has acquired Edge Apartments, a 371-unit Class A multifamily community located at 1921 South Union Street in Anaheim, California. CBRE arranged the sale, with Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, and Kenji Thomas representing the seller, PGIM Real Estate, in the transaction. The deal was announced September 10, 2026.

Property Overview: Edge Apartments in Anaheim's Platinum Triangle

Completed in 2019, Edge Apartments is a five-story mid-rise community situated in Anaheim's Platinum Triangle, an 820-acre master-planned district anchored by OCVibe, Angel Stadium, Honda Center, and the Anaheim Regional Transportation Intermodal Center. The property comprises 371 apartment homes with an average unit size of 865 square feet, totaling approximately 321,000 square feet of residential space.

The community offers more than 31,000 square feet of indoor and outdoor amenity space, including a rooftop terrace, resort-style pool and spa, fitness center, clubhouse, business center, and outdoor gathering areas. Residents have direct access to Interstate 5 and State Routes 57 and 22, connecting the property to employment centers across Orange and Los Angeles Counties.

Current asking rents at the property range from the mid-$2,000s per month for studios and one-bedroom units to the mid-$3,000s for two-bedroom units and the low-to-mid $4,000s for three-bedroom units, consistent with Class A positioning in the Platinum Triangle submarket.

CBRE Brokers and Market Positioning

Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, and Kenji Thomas of CBRE represented the seller in the transaction. Parsons, an Executive Vice President at CBRE, pointed to the property's fundamentals and location as central to investor interest.

"The sale of Edge Apartments highlights the continued investor demand for high-quality multifamily assets in Orange County's most dynamic submarkets," Parsons said. "The property's strong performance, premier amenity package and location within the rapidly evolving Platinum Triangle positioned it as an attractive opportunity."

Platinum Triangle: An Evolving Live-Work-Play District

The Platinum Triangle continues to attract significant institutional capital as large-scale development reshapes the district. OCVibe, the dominant mixed-use initiative anchored around Honda Center and the Anaheim Regional Transportation Intermodal Center, encompasses approximately 1.9 million square feet of commercial uses including entertainment, retail, and restaurants; more than 961,000 square feet of office space; up to 2,800 residential units with around 195 to 300 affordable units depending on phase; two hotels totaling roughly 650 rooms; and multiple concert and performance venues, including a new 6,000-capacity hall. The development also includes approximately 20 acres of parks and open space and three miles of trails. Cost estimates for the mixed-use district range from $3 billion to $4 billion, with additional investment of up to $1 billion in improvements to Honda Center, funded primarily by the Samueli family with supplemental city-issued bonds.

Edge Apartments, as a stabilized 2019-vintage asset within this evolving district, is positioned as established, income-producing multifamily product within a submarket undergoing ongoing transformation.

Orange County Multifamily Market Fundamentals

The transaction comes as Orange County's multifamily market maintains strong occupancy levels. CBRE research indicates the Platinum Triangle has sustained occupancy above 96% and is approaching a period of supply stabilization following the delivery of current projects. Countywide multifamily occupancy stood at 96.1% at the end of the first quarter of 2026. Orange County has historically outperformed neighboring Southern California markets in rent growth, supported by limited housing supply and sustained renter demand.

CBRE noted that the Anaheim multifamily market continues to benefit from its proximity to major employment centers, regional transportation infrastructure, and entertainment destinations.

Sources:
CBRE Press Release: CBRE Facilitates Sale of Edge Apartments in Anaheim, California