Samueli Family Office Acquires Anaheim Apartment Complex for $153.6 Million

H&S Ventures partnered with Waterford Property Company to buy the 371-unit Edge Apartments from PGIM Inc., paying about $414,000 per unit.

By the Family Office Real Estate Daily Desk·Wednesday, September 23, 2026·2 min read

Editorial summary of reporting byOrange County Business Journal Our editorial standards →

The answer · checked against Orange County Business Journal

What did H&S Ventures pay for the Edge Apartments in Anaheim and who were the key parties involved?

H&S Ventures, the Samueli family office, acquired the 371-unit Edge Apartments in Anaheim's Platinum Triangle for $153.6 million, or approximately $414,000 per unit, from PGIM Inc. Newport Beach-based Waterford Property Company assisted in the acquisition. The deal is the largest reported commercial real estate acquisition the Samueli family has made in the Platinum Triangle since its $125 million purchase of Arena Corporate Center in 2018.

Key facts

H&S Ventures, the Samueli family office, purchased the 371-unit Edge Apartments from PGIM Inc. for $153.6 million, according to the Orange County Business Journal.
The sale price equates to approximately $414,000 per apartment, according to the Orange County Business Journal.
PGIM Inc. originally acquired Edge Apartments as part of a $380 million, three-property portfolio purchase from JPI Companies in 2021, according to the Orange County Business Journal.
Edge Apartments, built by JPI Companies in 2019, is a five-story complex at 1921 S. Union St. featuring apartments averaging 865 square feet, according to the Orange County Business Journal.
Since 2020, including the Edge acquisition, H&S Ventures has spent approximately $318 million buying properties in Anaheim, according to the Orange County Business Journal.

Samueli Family Office Acquires Anaheim Apartment Complex for $153.6 Million — Image: editorial illustration · Story sourced from Orange County Business Journal

H&S Ventures, the family office of Anaheim Ducks owners Henry and Susan Samueli, acquired the 371-unit Edge Apartments in Anaheim's Platinum Triangle for $153.6 million. The family office purchased the property from PGIM Inc., the asset management arm of Prudential Financial, with assistance from Newport Beach-based Waterford Property Company. The sale price translates to about $414,000 per apartment.

The deal marks the largest commercial real estate acquisition by price that the Samueli family has made in the Platinum Triangle since the $125 million purchase of the Arena Corporate Center in 2018. The family has assembled one of the area's largest property portfolios.

Built by JPI Companies in 2019, the five-story complex at 1921 S. Union St. features apartments averaging 865 square feet. The property contains more than 31,000 square feet of indoor and outdoor amenities, including a heated swimming pool, clubhouse and an arcade room hidden behind a bookshelf entrance. CBRE's Rachel Parsons, Derrek Ostrzyzek, Mike Murphy and Kenji Thomas represented the seller.

The transaction came shortly after New York-based Tishman Speyer purchased the neighboring Rise Apartments, a 376-unit complex at 1910 S. Union St., for about $160 million, or about $425,000 per unit. The two properties combined have 747 apartments and traded for almost $314 million within about a week.

The two sales represent the second and third largest apartment deals in Orange County this year, behind the $180.4 million sale of a 380-unit apartment in Mission Viejo, which was part of a CalStrs portfolio acquisition in July.

The back-to-back sales offer another sign of institutional investor interest in the Platinum Triangle, an 820-acre district that has transformed from a largely industrial and commercial area into a mixed-use neighborhood anchored by Honda Center and Angel Stadium. The area is attracting billions of dollars in investment, including the Samuelis' $4 billion, 100-acre OCVibe mixed-use project and a $1 billion renovation of Honda Center.

Disneyland Resort, about a 10-minute drive from the district, has committed at least $1.9 billion in its resort area over 10 years as part of the city-approved DisneylandForward plan. Both apartment deals closed before the announced $4 billion sale of the Los Angeles Angels to billionaire real estate and sports mogul Stan Kroenke. The team's lease includes the 150-acre, city-owned Angel Stadium property and control of its surrounding parking lots.

When you look at Orange County as a whole, it's one of the only places that you really see billions of dollars of investment, Parsons said. When you go to this pocket of town, in five or 10 years it's got to look and feel different, right? Because there's growth. There's exciting things happening, and you just don't see that level of investment in infrastructure and development really anywhere else in the county right now. Parsons said that both properties received several bids and were on the market for about 45 days before CBRE chose buyers.

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The pricing suggests a route through platform partnerships rather than standalone acquisitions. The Samueli family office brought in Waterford Property Company, a specialist in workforce housing, rather than executing the deal alone. That structure implies the family office is playing co-GP or programmatic partner, not taking full operational control. Family offices considering similar deals should evaluate whether they have in-house asset management depth or need a co-sponsor with local operating expertise.

The per-unit pricing of $414,000 at Edge and $425,000 at the neighboring Rise property compares to $474,700 per unit at the Mission Viejo deal that topped the Orange County market this year. The discount to that comparable suggests either a cap-rate premium for Platinum Triangle development risk or a structural difference in the assets. Underwrite the spread. If the discount reflects execution risk tied to the district's ongoing redevelopment, the entry price may compensate for lease-up volatility or delayed amenity benefits from the surrounding $7 billion in announced projects.

The deals closed before the Angels sale to Stan Kroenke was announced. That timing matters. If Kroenke replicates his SoFi Stadium playbook and redevelops the 150-acre Angel Stadium site into a mixed-use district, the surrounding apartment stock gains a significant amenity base and probable rent support. Family offices holding these assets are effectively long a free option on that catalyst. The risk is the opposite scenario: if Kroenke's plans stall or the city negotiations drag, the district's upside compresses and the properties underperform on a longer timeline than modeled.

Parsons noted multiple bids and a 45-day marketing period. That velocity in a year when transaction volume has been muted suggests strong price discovery and competition for stabilized, institutional-grade product in growth corridors. Family offices deploying capital into multifamily should price in that competition and avoid assuming distress will create entry opportunities in core locations. The capital is already there.

Questions this story answers

01Who sold the Edge Apartments in Anaheim and what did they originally pay for it?

PGIM Inc., Prudential Financial's asset management business, sold Edge Apartments to H&S Ventures. PGIM originally acquired Edge Apartments as part of a $380 million, three-property portfolio purchase from JPI Companies in 2021, according to the Orange County Business Journal.

02What is the Samueli family's total real estate spending in Anaheim since 2020?

Since 2020, including the Edge Apartments acquisition, H&S Ventures has spent approximately $318 million buying properties in Anaheim, according to the Orange County Business Journal. Those purchases include both Stadium Tower office buildings, a 105,000-square-foot industrial property near Angel Stadium, and two retail properties that will be part of OCVibe.

03What is the occupancy rate at Edge Apartments and how does the Platinum Triangle market look overall?

Edge Apartments and the neighboring Rise Apartments are each approximately 97% occupied, according to CoStar data cited by the Orange County Business Journal. CBRE's Rachel Parsons said the Platinum Triangle has kept occupancy above 95% with few concessions and described Orange County as every institutional investor's number-one target market right now because fundamentals have been really tight.

04Why did CBRE sell Edge Apartments and Rise Apartments separately rather than as a portfolio?

CBRE's Rachel Parsons said selling the two properties together would have made the total price too high for many institutional buyers. Parsons said the check size starts to get really large when pricing exceeds $300 million, and that selling them to two individual groups produced more demand and stronger overall pricing than a single portfolio sale, according to the Orange County Business Journal.

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