In its first investment, an affiliated entity of Monarch Partners I, L.P. acquired Monarch at Shadowridge through a joint venture with Archon Group, a wholly-owned subsidiary of The Goldman Sachs Group, Inc. Monarch at Shadowridge is a 314-unit, Class A luxury apartment community located in Vista, California. This investment represented the unique opportunity to acquire an institutional-quality apartment project with a condominium map in place in the high barriers to entry North San Diego County area. In today’s environment, it is very difficult for existing apartment projects in the City of Vista to obtain condominium maps. In addition, several factors limit new multifamily construction in North San Diego County, including escalating development fees, rising construction and land costs, and a lack of competitive apartment sites.

Completed in 2005, Monarch at Shadowridge is one of the highest quality multifamily projects in North San Diego County and the newest multifamily community in the City of Vista. The property was constructed with a high level of architectural detail. Institutional-quality amenities include a large private clubhouse and leasing center, 24-hour business center, state-of-the-art fitness center, recreation area with individual game systems, stadium-style movie theater, and gourmet teaching kitchen. The resort-style pool and spa area features barbecue facilities and an outdoor fire hearth. Individual one-, two-, and three-bedroom units feature nine-foot ceilings with crown molding, ceramic tile entries, dual pane windows, granite countertops, stainless steel appliances, and full size washer/dryers. Many units also feature attached garages. The units offer efficient floor plans, modern designs, and amenities typically found in condominiums and single-family homes. The amenity package, unit floor plans, and interior finishes are superior to all competitors in the submarket.

For more information, please visit the property website at www.monarchatshadowridge-apts.com.
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