Apartment Venture Eyes California Multifamily Surge

Amonte Living aims to acquire $500M in multifamily properties across the Western US over 2–3 years.
The joint venture has already acquired three Los Angeles-area properties totaling $90M.
Focus remains on supply-constrained, below-replacement-cost assets for long-term gains.
Apartment market dislocation and low construction starts seen as buying opportunities.

Key Takeaways

New Joint Venture Targets West Coast

CoStar reports that Los Angeles-based Arselle Investments and Amoroso Companies have launched Amonte Living, a new apartment venture focused on the Western US. The partners plan to invest up to $500M in multifamily acquisitions. They aim to capitalize on pricing dislocation and ongoing market uncertainty.

The venture has already closed three deals in the greater Los Angeles area. These include Alur in Pasadena for $22M. The firm also acquired Sofi Topanga in Chatsworth for $44M. In addition, it purchased Terraces at La Cienega in West Hollywood for $23M.

Apartment Strategy in Action

Amonte Living believes current conditions favor multifamily investment. Apartment values sit about 20% below their recent peak. Meanwhile, construction starts have fallen to decade lows. As a result, the firm expects buying opportunities to increase. Overleveraged owners face mounting pressure, and new supply continues to slow.

The strategy targets supply-constrained markets such as Southern California. Strict regulations and high construction costs limit new development. Therefore, the venture seeks assets priced below replacement cost. The partners believe this approach supports durable positioning and long-term returns. That conviction comes as other investment managers launch large-scale multifamily platforms aimed at specific niches, including workforce housing, to capture shifting demand across major metros.

Geographic Focus and Market Selection

While initial investments have concentrated on the Los Angeles area, the apartment venture is evaluating deals in Seattle, Phoenix, and Denver. Each market is being assessed for job growth, supply trends, and demographic shifts.

Seattle stands out for its tech sector expansion, Phoenix for population growth after recent oversupply, and Denver for diverse opportunities. The partners emphasize careful market selection and timing to maximize returns.

Partnership Foundations and Outlook

Arselle Investments brings institutional capital markets expertise, with founders experienced in major national investment cycles, while Amoroso Companies contributes decades of operating experience with nearly 8,000 multifamily units owned or managed.

The firms will maintain separate primary businesses but use Amonte Living as a platform for targeted acquisitions. They cite complementary strengths and deep Western US roots as key factors behind their confident apartment venture strategy.