CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M
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CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M
LOS ANGELES — CGI+, a Los Angeles-based multifamily investment firm, has completed the disposition of a shovel-ready, 4.9-acre development site in Torrance to JPI for $40 million. The property is entitled for a six-story, 525-unit residential building, with 34 units reserved for residents earning less than 30 percent of the area median income. Designed by AC Martin, the planned development will offer floor plans ranging from studio to three-bedr…
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