MBK Real Estate Companies, Haseko Corporation Sell 315-Unit Anaheim Apartment Community for $147.5 Million
MBK Real Estate Companies' rental living division and joint venture partner Haseko Corporation have sold Zia, a 315-unit Class A apartment community in Anaheim, California, for $147.5 million, the firms announced. The transaction closed Aug. 26, 2026, with Cushman & Wakefield's Capital Markets Group arranging the sale on behalf of the seller. The buyer is an institutional investor.
Property Overview: Zia in Anaheim
Located at 1600 W. Lincoln Ave. on a 5.2-acre site, Zia is a five-story, wrap-style community that opened in September 2024. The property comprises 315 studios and one-, two-, and three-bedroom apartments ranging from approximately 600 to 1,900 square feet. The $147.5 million sale price equates to approximately $468,000 per unit.
The community's amenity package includes a 4,000-square-foot, 24-hour fitness center with a children's lounge, a pool with grill, bar area, spa and cabanas, entertainment and Zen courtyards, a game lounge with a racing car simulator, co-working office space with conference rooms, and a dog spa and park. Zia also incorporates MBK Rental Living's "With Our World" sustainability program, which integrates energy-efficient systems and environmentally conscious design practices.
Asking rents at the property range from approximately $2,537 to $4,907 per month across unit types, positioning Zia above the Orange County multifamily average asking rent of roughly $2,727 per month recorded in the second quarter of 2026. MBK and Haseko previously acquired the 5.2-acre site for $21.4 million.
Principals and Brokerage Team
"Zia represents the thoughtful planning, design, and execution that define MBK Rental Living's approach to creating lasting value," said Ken McCarren, President of MBK Rental Living. "From the outset, our vision was to deliver a community centered on wellness, connectivity, and an exceptional resident experience. The strong market response and performance of the asset are a testament to that vision, the dedication of our team, and the continued appeal of Anaheim as a place to live, work, and thrive."
McCarren added that Zia "attracted investors from around the globe, who were drawn to the quality of construction, the property's strong operating performance and the compelling prospects for future rent growth."
The Cushman & Wakefield Capital Markets team that arranged the transaction on behalf of MBK was led by Marc Renard, Morgan Jackson, Manfred Schaub, and Joyce Bee.
Joint Venture Background
Zia was developed as a joint venture between MBK Real Estate Companies' rental living division and Haseko Corporation. Haseko North America is a wholly owned subsidiary of Haseko Corporation, the largest vertically integrated residential construction firm in Japan. Founded in 1937 and listed on the Tokyo Stock Exchange in 1965, Haseko has built more than 730,000 condominiums. The firm reported annual revenues of $7.96 billion and total assets of $8.87 billion in its most recent annual filings.
MBK Real Estate Companies is the U.S. real estate development arm of Mitsui & Co., Ltd., a global trading and investment company. MBK Rental Living is a division of MBK Real Estate LLC and has operated for more than 30 years. The company's portfolio spans apartment, industrial, and senior housing development.
Orange County Multifamily Market Context
The Zia sale comes as Orange County's luxury multifamily segment continues to attract institutional capital. The county's multifamily vacancy rate stood at approximately 4.0 to 4.3 percent in the second quarter of 2026, up modestly year-over-year, while average asking rents rose roughly 1.75 percent over the same period. Cap rate surveys for Anaheim multifamily assets in early-to-mid 2026 placed luxury metro Class A product at approximately 5.18 percent and suburban Class A at approximately 5.25 percent.
MBK Rental Living continues to operate apartment communities across California and Colorado, including Solana in Duarte, Vida in Morgan Hill, The Haven in Petaluma, Ona in Natomas, Las Brisas in Santa Maria, Alexan Peña Station in Denver, and The Aven in Colorado Springs.